€2.2bn housing initiative to create 10,000 homes

A €2.2bn public housing investment in the next three years should lead to the building of 10,000 homes, the Government has said.

Public Expenditure and Reform Minister Brendan Howlin insisted the scheme, the first major investment in building in five years, would deal with a “dire social need” after the Government came under heavy fire for not doing enough to deal with the housing crisis.

The project will see €1.5bn of exchequer funding used alongside €300m from social partnership, and a further €400m from a “financial vehicle” set-up to attract investment from the private sector.