Rents in Dun Laoghaire are at 2K and will create profit bonanza for developers but offers nothing to these affected by housing crisis

In a statement, Richard Boyd Barrett, People Before Profit TD for Dun Laoghaire, responding to news that planning permission has been granted for Cherrywood Town Centre and 1269 rental units has said that while its planning permission is welcome “this major development will do little or nothing for those affected by the housing crisis unless the government ensures they are genuinely affordable to those on low and middle incomes.

“As it stands, this development will simply yield a profit bonanza for developers, Hines, who got this site for a song from NAMA, thanks to the misguided policies of the government.

“Current rents in the Dun Laoghaire area are €2,000+ for most rental units, which is totally unfordable for the vast majority of people who are caught up in the current housing crisis.

“It is outrageous that Hines got this site at a large discount from NAMA, has received €15 million in government funding from LIAF, but will be allowed rent and sell these units at totally unaffordable levels.

“Even a small social housing (Part V) requirement will cost the council a fortune to buy from the developer and currently the amount of ‘affordable’ housing that will be delivered is likely to be miserable and unaffordable because the government have not defined affordability and have imposed no meaningful affordable requirement of private developers.

“Put simply, this site could and should solve the housing crisis in Dun Laoghaire but it won’t because of current government policy.”