Contract Signing is key to delivery of 34 Social Housing Units in Bantry
October 4th 2022
Mayor of the County of Cork, Cllr Danny Collins has welcomed the announcement that the Housing Infrastructure Services Company (HISCo), will deliver the infrastructure required to facilitate the development of 34 new houses in Bantry, Co. Cork.
The €9.5m turnkey social housing development will be constructed by Kieran O Sullivan Builders and consist of a mix of 1,2,3 & 4 bedroom houses, all of which will be A-rated and will assist in meeting demand for social housing in the area. The homes are due to be completed in 3 phases with the first 10 due to transfer to Cork County Council next year. The development also forms part of Cork County Council’s ambitious target under ‘Housing for All’ which will see almost 3,200 new social houses constructed across the county between 2022 and 2026.
Mayor Collins highlighted how this development will support social housing requirements in Bantry, saying, “We have ambitious plans to address the housing need across County Cork. We want our towns and villages to thrive and access to housing is a vital part of that. This development of 34 turnkey social houses will be a very welcome addition to Bantry during 2023 and demonstrates Cork County Council’s commitment to ‘Housing for All’.”
HISCo’s Chief Executive Officer Niall Morrissey stated: “HISCo will construct the roads, footpaths, water supply, waste water pipes, storm water system, public lighting, boundary walls, utility ducts and all ancillary services required for the new homes. Our collaboration with the Developer and Cork County Council demonstrates how the HISCo business model can remove barriers to the delivery of residential accommodation.”
Chief Executive of Cork County Council, Tim Lucey added, “The delivery of social housing is a key priority within the national Housing for All policy. Our success to date has required innovative solutions such as HISCo. The unique element of the service is that payment of HISCo Fees are only required when the units are sold to the local authority, providing the builder with a cashflow break allowing him to concentrate on the delivery of houses. Cork County Council will continue to work on innovative solutions to maximise output and make a significant and positive impact on the supply of social housing across the county.”
HISCo was established by the Ireland Strategic Investment Fund, (which is controlled and managed by the National Treasury Management Agency), and Cork County Council. The Company provide an innovative solution to the provision of both on-site and off-site infrastructure that is hindering the delivery of residential development throughout Ireland. HISCo is currently considering projects in 12 counties all of which will predominantly support the delivery of private residential units.
The Bantry project is being delivered in partnership with DCMA Consultants and MMC Quantity Surveyors, both based in Cork.