First time buyer help as Bishopstown affordable housing scheme opens to registrations this week
Ardrostig, Hawkes Road, Bishopstown, Affordable housing
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Bishopstown, Cork |
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From €246,000 |
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Size |
From 894 sq ft |
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Bedrooms |
2-3 |
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Bathrooms |
2 |
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BER |
A2 |
FIRST time buyers (FTBs) struggling with the feeling that the only hope of owning a home will come down to a stroke of luck may take heart from some new housing schemes in Cork City where greater affordability is a feature.
One of these is the €22m Ardrostig scheme on Hawkes Road in Bishopstown, by OBR Construction, where 35 affordable townhouses are earmarked largely for first time buyers, at prices starting from €246,000 for a two-bed and from €289,500 for a three-bed. The houses range in size from 894 sq ft two-bed units to 1,152 sq ft three-beds and all come with an excellent A2 energy rating.
Heating is air-to-water, there’s underfloor heating on the ground floor and high levels of attic insulation. Back gardens are seeded with grass.
The Ardrostig development of 64 homes, of which 35 are set aside under the affordability scheme, is one of four such schemes launched in recent months by Cork City Council, with estate agents Cohalan Downing looking after the sales in all but one (the exception is Newton Heights, Boherboy Road, Mayfield). Agents Suzanne Tyrrell and Jackie Cohalan say that all of the schemes are “in excellent locations” eg Ardrostig, which is “particularly convenient to third level education institutions such as Munster Technological Intistute and UCC, and hospitals such at CUH”. Moreover, it’s been designed to promote the use of public transport, with the nearest bus stop just 200m from the entrance to the sites.
Ms Tyrrell is of the view that if the Ardrostig homes were sold on the private open market, “the two-bed townhouses would be in the region of €320,000 and the three-beds in the region of €370,000”.
She points out that as FTBs, successful applicants can also quality for the Help to Buy grant, worth upto €30,000.
To get in on the act, you must be a first time buyer (with some exceptions, more details at www.ardrostig.ie) with maximum earnings of €67,331 for a two-bed, and a €79,088 income limit for those applying for three-beds. The portal allowing people to apply for Ardrostig homes will open at noon on Tuesday (Feb 28) and runs until midnight on March 14.
Things have progressed well beyond registration phase at the Vella Homes Cluain Chaoin development on Kerry Road in Tower, where 36 affordable homes are “sale agreed”. Ms Cohalan said the legal process is now beginning. New homeowners can expect to move in in the coming weeks and months. Prices at Cluain Chaoin ranged from €241,000 for a two bed bungalow to starting at €305,000 for a four bed semi-d.
On the other side of the city, at Crann Darach, on the Middle Glanmire Road, successful applicants for 27 affordable homes are being notified. Cohalan Downing will be following up with each purchaser re: choosing a home and paying a booking deposit. House types include two-bed units, three beds and some four beds and prices range from a minimum of €250,500 for a two bed, up to a minimum of €305,000 for a four bed.
Built by Murnane & O’Shea, Crann Darach has 54 homes in total, with half ear-marked for affordable housing.
Crann Darach and Cluain Chaoin are further down the road to occupancy than Ardrostig, where, in relation to 70% of the homes, successful applicants will be on a first come, first serve basis , with the balance of homes (30%) awarded through a lottery.
A proviso for applicants is confirmed residency in the Cork City Council administrative area for a minimum of five years. Successful buyers will sign up to an Affordable Dwelling Purchase Arrangement with the City Council who will retrain an equity share. If buyers wish to buy out the equity share, they can do so at any time. Those who sell on must repay the equity share.
www.ardrostigbishopstown.ie and styrrell@cohalandowning.ie, Tel: 021 427 7717
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