A €9.5M project will see a social housing development comprising 34 new houses delivered in Bantry.
The turnkey development will be constructed by Kieran O’Sullivan Builders and consist of a mix of one, two, three and four 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 three phases with the first 10 due to transfer to Cork County Council next year.
The Housing Infrastructure Services Company (HISCo), will deliver the infrastructure required to facilitate the development.
It will construct the roads, footpaths, water supply, wastewater pipes, storm water system, public lighting, boundary walls, utility ducts and all ancillary services required for the new homes.
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 provides 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.
Cork county mayor Cllr Danny Collins highlighted how this development will support social housing requirements in Bantry.
HISCo’s chief executive officer Niall Morrissey added: ‘Our collaboration with the developer and Cork County Council demonstrates how the HISCo business model can remove barriers to the delivery of residential accommodation.’
Cork County Council chief executive Tim Lucey explained how the unique element of the service is that payment of HISCo fees are only required when the units are sold to the local authority.
This provides the builder with a cashflow break, allowing them 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.’
