50 New Cost Rental Homes In Newbridge Open For Applications

Rental prices start at €1,000 for a one bedroom apartment.

Clúid Housing opens applications for 50 new cost rental homes in Newbridge today with rents approximately 25% to 30% below market value.

The 50 new cost rental homes are a mix of one-, two, and three-bedroom apartments, located in The Paddocks, Newbridge.

Under the Government’s Cost Rental Scheme, rents are targeted at a minimum of 25% below open market value, with prices for The Paddocks homes starting at €1,000 per month.

Applications officially open online on Wednesday 27th July 2022, and will remain open until 5pm on Wednesday 3rd August.

Applicants are obliged to provide evidence of the following eligibility criteria:

•    Net household income is below €53,000 per annum.

•    Not in receipt of any social housing supports (including Rent Supplement or HAP)

•    Do not own a property

•    Household size matches the size of the property advertised (All members of the household must be living in Ireland at time of applying.)

•    Applicants can afford to pay the cost rent for the home

•    Household has only entered one application for a specific cost rental property

Should more applications be received than properties available, completed applications will be selected at random.

The random selection system is automated and auditable, to ensure a fair application process for all.

This development will enable more middle-income households in Newbridge to access high-quality, secure homes close to their work and community, Clúid said.

In addition to below-market rates, residents will also be provided with long-term security of tenure.

The first homes will be available to move into in October 2022. When complete, homebuilder Montane Developments will have delivered a total of over 300 homes in The Paddocks development.

These new-build, A-rated, energy efficient properties are semi-furnished.

Each home will include white goods, including a fridge freezer, a dishwasher, an oven and hob, a microwave, and a washer dryer as standard. Roller blinds, including a blackout blind in bedrooms, are provided, in addition to laminate flooring throughout, and tiled bathrooms.

The Paddocks development is conveniently located close to sports, social, educational, commercial, transport and recreational amenities of Newbridge, making it an ideal location for those already living or working in Newbridge, or with links to the area.

It is a 60 minute drive or 35 minute train journey to Dublin city centre.

With rents approximately 25% to 30% below the local market value, the properties in The Paddocks will be available at:

•    1 bed apartment - €1,000 per calendar month

•    2 bed apartment - €1,240 per calendar month

•    3 bed apartment - €1,350 per calendar month

Fiona Cormican, Clúid Housing’s Director of New Business, commented: “We received more than 800 applications for cost rental apartments in The Paddocks when we launched phase one in April of this year, and we hope to see similar levels of interest in this newest phase.

“Clúid has now brought 250 cost rental properties to the market, and we are ready to assist the Government in achieving their target of 2,000 cost rental homes per year and 18,000 by 2030 as set out in Housing for All," she added

Alton, a resident in phase one of the cost rental apartments in The Paddocks, said: “I applied to Clúid Housing and within a few weeks I was contacted for an interview and subsequently was offered to view a property.

"The property I viewed was a new build apartment which seemed to be of a very high quality. I accepted the offer and could not have made a better decision. 

“The area is quiet and offers a lot of amenities. The development is family-oriented, multicultural and it is an absolute pleasure to be living here. The property itself is finished to a high standard, and the Clúid staff make the process simple and stress free.”