merrion street

The Department of Finance today received a letter from the Home Sweet Home group, which is ten pages long and covers details relevant to the actions taken by that group. The Department of Finance will consider the content and a response will issue in due course.

The Government are aware of the powers of NAMA under the NAMA Act 2009.

NAMA has already been active in this space and have offered almost 7,000 units to local authorities for use as social housing. NAMA advise that of these local authorities have taken up c. 2,400 units for social housing use.

NAMA also has plans to facilitate the delivery of 20,000 private residential units on sites securing its loans in Dublin and its surrounds in the period to 2020. NAMA is well on its way to deliver on that target and from Q1 2014 to December 2016 have facilitated the delivery of 4,500. The associated 10% social housing delivered on such sites should not be forgotten and is a further meaningful contribution to addressing shortages. This initiative highlights how NAMA can advance its commercial mandate whilst also being mindful of ancillary social objectives.

The availability of housing is the key priority for Government and has been the focus of a number of measures introduced under the Government’s Rebuilding Ireland Plan. The Department of Finance, the Minister for Finance, and NAMA continue to support that work.