Calling all Home Builders and Housing Developers - Limerick City and County Council are seeking residential developments for affordable housing.
Limerick City and County Council are seeking to enter into advance purchase arrangements with home builders and housing developers to secure affordable homes in areas where the need is most acute. Limerick City and County Council is seeking to agree advance purchase of unbuilt properties ’off-plan’ that have a grant of planning permission in the following areas:
- Limerick City (all areas including suburbs)
This call is targeted at advance purchase opportunities for a minimum of 10 and a maximum of 150 dwellings in any one scheme. Please note that Part V of the Planning and Development Act 2000 as amended applies. Joint venture arrangements that include an Approved Housing Body (AHB) will also be considered.
How Limerick City and County Council can help you in this process
- Where proposals for affordable or mixed tenure dwellings are received and considered acceptable, Limerick City and County Council makes an application to the new Affordable Housing Fund (AHF) under the Department of Housing, Local Government and Heritage for a subsidy to assist you in meeting the cost of delivery of affordable purchase housing.
The AHF funding is dependent on several criteria and 3 funding limits. Please refer to the below table.
|Scheme density||Subsidy Limit|
|Dwellings in schemes with a net density of over 50 dwellings per hectare in cities designated under the National Planning Framework||€100,000|
|Dwellings in schemes with a net density of over 35 dwellings and under 50 dwellings per hectare in all urban areas||€75,000|
|Dwellings in schemes with a net density of less than 35 dwellings per hectare||€50,000|
- Where mixed tenure schemes are provided (affordable/social) there is a requirement that no more than 30% of the scheme is allocated to social, where mixed tenure schemes over 25 units are proposed.
- Affordable Purchase dwellings must achieve a minimum of 15% discount. The calculation of the 15% discount is set out in the example below:
Achieves minimum 15% discount is achieved on open market value of comparable new build properties.
|Local Authority Housing|
|Cost of provision (all-in costs)2||€220,000|
|Affordable Housing Funding (AHF)||€50,000|
|Purchaser Contribution (i.e.Mortgage and deposit)||€170,000|
|Open market value of comparable new build||€200,000|
- There is a construction cost cap of €400,000.00 required under the Affordable Housing Fund.
- The Affordable Housing Fund application is subject to approval by the Department of Housing, Local Government and Heritage. Once funding is agreed we can enter into an advanced purchase agreement with you. The advance purchase agreement provides for the direct sale of homes by the developer to an eligible purchaser nominated by the local authority. Limerick City and County Councill will assess the affordable purchaser’s eligibility and nominate them to you.
- Limerick City and County Council will release the subsidy to you on completion of the sale.
Assessment and Approval Stages
|Week 1-6||Register of interest. Inviting submissions during this period from developers/ builders.|
|Week 7-10||Assessment of applications. All Stage 1 submissions will be evaluated against Pass/Fail criteria. Only those submissions which achieve a Pass mark against all criteria will move to the second stage of process. At Stage 2 proposal will be awarded marks based on the award criteria. The requirement for Stage 2 Pass is 55/100 marks.|
|Week 11||Notify eligible applicants.|
|Week 12-14||Limerick City and County Council applies to the Department of Housing, Local Government and Heritage on your behalf under the AHF to get your subsidy approved.|
|Week 15-18||Department to review and approve the application if no further information is required.|
|Week 19||Proceed to sign the development agreement.|
Please submit a completed Expression of Interest Application Form as soon as possible but no later than 5 pm, Friday, 15/12/2023.
Expression of interest application form can be downloaded at the end of the page.
For further details please contact:
The Affordable Housing Team
Housing Strategy and Non-LA Construction Unit
Limerick City and County Council