Nama to build 20,000 homes by 2020
The news came as it was revealed that prefab homes promised to homeless families currently living in emergency accommodation will not now be ready before Christmas as was promised.
The Nama announcement was made on the same day as a bill to abolish the controversy-plagued Dublin Docklands Development Authority (DDDA) passed through the Dáil.
The bill will now move to the Seanad before the quango — which was highly criticised over the purchase of the old Irish Glass Bottle Site in Ringsend — can be abolished.
Nama is now set to build 20,000 homes — almost 80% of which will be in Dublin with the remainder in commuter areas around the capital and other regions where there is demand.
The docklands project will also create 3.8m sq ft of commercial space, which is equivalent to double the original IFSC.
The development will require total funding of €5.6bn with peak funding expected to be €1.8bn — the proceeds from the sale of completed projects will be recycled to fund new commercially viable projects.
Announcing the plans Nama chief executive Brendan McDonagh said, “The plan is to deliver 20,000 units between 2016 and the end of 2020 so it’s an average of about 4,000 per year.”
“This funding programme is designed to maximise the return to taxpayers on Nama’s secured assets," he said.
“We are on track to make a significant contribution to delivering large numbers of quality new homes where people need them but it will still only be 20% of the forecast market demand.”
However, he said that just 10% of homes built will be social housing in accordance with planning guidelines.
“Whatever planning is coming through, 10% will be for social housing,” he said.
The announcement comes as it was revealed that prefab homes promised to homeless families will now not be delivered on time.
The developer responsible for building modular homes does not believe any families will be moved in before Christmas as was promised.
Environment Minister Alan Kelly had pledged that 22 prefabricated homes would be ready for families currently in emergency accommodation — including hotels and B&Bs — before the Christmas period.
But Martin McCluskey from Western Buildings Systems said, “The first houses will be on site before Christmas but it will still be at that stage a building site, I can’t see how we would get people moved in.
“It’s a big big disappointment for us, mostly for the people who are waiting for the housing it must be a severe disappointment for them,” he said.
Although builders are now back on site after being blocked by protesters Mr McCluskey said: “We are only at the foundation level of the first block.”
Mr Kelly said time had been lost as a result of protesters who claim that the construction of modular homes on the site in Poppintree, Ballymun in Dublin, may jeopardise previous social housing proposals for the land.
Mr Kelly said, “They did lose a considerable amount of time because people protested in a very, very ridiculous way, what they were effecting was the possibility of people who are in need of these units not getting them for Christmas.”
