Cork's largest affordable homes scheme so far this year set for applications next week
October The Open 2, Applications For At Houses Ard, Noon On 12 Cluain Cobh, At Monday,
Significant interest is expected in the largest affordable housing schemes developed in Cork county this year which will offer homes for sale to first-time buyers at around 25% below current market prices.
The scheme of 49 new local authority homes, a mix of two-bed townhouses and three-bed houses which has been developed at Cluain Ard in Cobh, will open for online applicants at 12 noon on October 2. The A-rated development on Great Island is within walking distance of Cobh town.
Cork County Council said the 21 two-bedroom townhouses will be available from €215,000, about 26% below market value, while the 28 three-bedroom houses will be available from €245,000, about 23% below market value.
Developed by Sirio Homes, the houses will generally be available for first-time buyers who do not own a home, although a small number of exceptions will apply together with ‘fresh start’ applicants.
Under the terms of the scheme, purchasers will enter into an affordable dwelling purchase arrangement with the local authority, which will see the council retaining a percentage equity share in the house equal to the difference between its market value and the price paid by the purchaser.
Mayor of the County of Cork, Cllr Frank O’Flynn said, the council was delighted to announce the launch of the scheme.
“It offers high-quality, affordable homes in a town which is steeped in history, brimming with activities, and picture-perfect from every angle. The houses are priced well below market value and this launch will be welcome news to prospective buyers in the area,” he said.
The outgoing chief executive of Cork County Council, Tim Lucey, said these 49 homes are in addition to 30 properties in Mallow and 32 in Carrigaline made available by the council under the Affordable Housing Purchase Scheme so far this year.
“There are also a number of affordable schemes that will come online over the coming months in towns across the county where the greatest need has been identified," he said.
Potential applicants have been advised to familiarise themselves with the qualification criteria and the documentation required. The details are available on the council’s website.
Applications for the Cobh scheme will be accepted between 12 noon on October 2 until 12 noon on October 23 via an online portal on corkcoco.ie.