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250,000 homes in deficit in Ireland; Ireland to deliver 300,000 new homes by 2030, says Deputy Prime Minister Michael Martin

Deputy Prime Minister Michael Martin officially launched the 753-home development in Ballyvolan, Cork, a €9 million, extensive new Cork project - requiring major preparatory work for utilities and infrastructure - to be built by Housing Infrastructure Services Company, a commercial joint venture between the Ireland Strategic Investment Fund (ISIF) and Cork County Council. (HISCO) supplies.

Housing Minister Darragh O'Brien has pledged that Ireland will deliver 300,000 new homes by 2030, and he said projects like Ballyvolane would enable Ireland to not only meet its housing targets but exceed them. Last month, T Shek Leo Varadkar announced that Ireland faced a deficit of 250,000 homes.

This is a very important project for Cork city and will ensure the supply of much needed housing only 4km from the city centre. As one of the largest housing developments ever launched in Cork City's history, this project highlights the building momentum we are currently seeing in housing delivery.” Martin said developments such as those undertaken by HISCo are critical.

Addressing Ireland's future housing needs. It is expected to provide more than 25,000 new homes for both owner-occupiers and renters. Need for social or affordable housing. This project builds on the positive signs in the field of residential construction. HISCo's model is now seeing results at scale across the country, and housing delivery at this scale will help not only meet the country's housing targets, but also exceed them. Housing Minister Darragh O'Brien said there were "positive" signs in the housing sector.

"ISIF's support plays a similar role in funding the vital operational infrastructure needed in Dublin's Cherrywood Special Development Zone and more recently in Drogheda. Increasing housing supply to meet demand is one of the biggest challenges we face as a society.

Housing for All is our plan to deliver 300,000 new homes between now and 2030, unlocking land and making housing viable is key to achieving our goal.” The HISCO model is one of the keys to delivering that, the minister said.

It is an exciting example of what can be achieved through their development model and builds on our successful early projects including the ongoing delivery of the Drogheda Northern Cross Route. Ireland.” “Great credit goes to Cork County Council and ISIF for setting up HISCo with the aim of meeting the challenge posed by critical infrastructure for housing development.

"It builds on the success to date in helping to deliver thousands of homes across Ireland. It is a sustainable housing development that will see new communities thrive long into the future." Finance Minister Michael McGrath said such housing developments were being rolled out in communities across Ireland.

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