Charity buys 'NAMA-ed' homes for social housing

The charity behind a new approach to social housing to be launched in Dublin later today is hoping its model of buying "NAMA-ed" homes can be replicated across the country.

The Clúid Housing Association bought 58 housing units in Sandyford through receivers appointed by NAMA, with the help of a loan from the Housing Finance Agency.

The apartments will be used for social housing and for the private rental sector.

Neil Bolton, Director of Operations with Clúid, believes this way of providing social housing is the way forward for both the Government and the voluntary housing sector.

"This is filling a space left by (the withdrawal of) grant funding" as a result of the recession, he said.