Landmark move set to prioritise local workers for Cork City apartment scheme

70 units in the large-scale development in Horgan's Quay to be ringfenced for people working within a five-mile radius of the area

The 302-unit Horgan's Quay scheme is part of Ireland's largest urban regeneration project. Picture: Eddie O'Hare

In a landmark move to prioritise housing for local workers, 70 units in Cork City’s first large scale apartment scheme in almost 20 years will be ringfenced for people working within a five-mile radius of Horgan’s Quay.

The first-of-its kind housing initiative aims to bring people closer to their workplace, cutting commuter times and costs, and ostensibly helping foster a sense of community as Cork expands into its docklands. 

The 302-unit Horgan’s Quay scheme marks the beginning of Ireland’s largest urban regeneration project, to which the Government has committed €353m. 

The wider project will ultimately span 147 hectares — delivering up to 10,000 new homes, with capacity for around 22,500 residents.

Located beside Kent Station, next to the River Lee, the Horgan’s Quay homes were delivered by the Land Development Agency (LDA) in partnership with HQ Developments, a joint venture involving BAM and Clarendon Properties. 

The scheme is the LDA’s first cost-rental development in Cork, with rents required to be at least 25% below local market rates. 

Monthly rents at HQ start at €1,395 for a one-bedroom unit and at €1,520 for a two-bedroom unit. 

The second quarter rental report from Daft.ie put average monthly market rent in Cork City at €1,781 for a one-bed apartment and at €2,168 for a two-bed. Based on these figures, the HQ apartments meet the cost-rental requirements. 

Applications for cost-rental apartments

Applications for HQ open on October 27, with eligible applicants able to apply through the LDA website.

LDA chief John Coleman said the apartments would cater for “middle-income earners finding it difficult to secure long term rental options in the city centre”. 

The last large scale apartment scheme delivered in the city centre was The Elysian, in 2008.

While the HQ development will ultimately deliver 302 apartments, 192 are due for imminent release. 

The LDA confirmed to the Irish Examiner that 70 (36%) will be reserved initially for people whose workplace is within a 5km radius. 

Prospective tenants will have to demonstrate their eligibility through payslips and company-headed letters or employment contracts. Self-employed applicants will have to show proof of a business operating at a local address. For joint applicants, at least one person will have to demonstrate meeting the local employment pool criterion.

Taoiseach Micheál Martin, who is due to visit Horgan’s Quay on Tuesday, said the opening of applications “demonstrates the valued and central role of the LDA” in delivering high quality homes at pace and scale.

The Taoiseach said: “Horgan’s Quay will provide over 300 new starter homes, helping more people and families to put down roots and build their futures. 

"Delivering high-quality homes at greater pace and scale is our priority."

Meanwhile, across the river on Kennedy Quay, foundations are being laid for 103 apartments in an LDA/O'Callaghan Properties partnership.

• Catherine Shanahan, Property Editor