Most efficient home 'already exists' - Housing Minister launches €150m vacancy fund

The Minister for Housing has launched a multi-million euro fund for local authorities (LAs) to tackle vacancy and dereliction across Ireland. 

Minister Darragh O'Brien published details of the Urban Regeneration and Development Fund (URDF) today (January 30) alongside the new Vacant Homes Action Plan. 

The former offers €150 million in funding to LAs for the activation of vacant properties and derelict sites, with the latter outlining progress in implementing actions relating to vacancy. 

The plan's measures include guidance on compulsory purchase orders by LAs with an initial focus on derelict properties, the rollout of a data collection project to capture the number of vacant and derelict properties, and continuing support and development of the full-time role of the Vacant Homes Officer. 

It also includes the €150m URDF fund for vacancy related projects.

Local authorities are now calling for proposals for funding to acquire a vacant or derelict property or site (residential or commercial) that may need to be improved so that it is more attractive for re-use or sale. 

The fund will then be replenished from the proceeds received from sale or use of a site, thereby allowing a local authority to establish a rolling programme to tackle long-term vacancy and dereliction without borrowing. 

The Department of Housing, Local Government and Heritage have also begun a six-week advertising campaign highlighting the supports available to people to buy, lease or sell vacant property, or convert vacant commercial property into homes. 

Speaking about the news, Minister O'Brien said, "The most efficient home to deliver is one that already exists. I want vacant properties in cities, towns and villages across the country to become homes – giving people the opportunity to live and participate in their local communities. 

"The Vacant Homes Action Plan I launched today outlines the real progress the Government is making in addressing vacancy and details the upcoming measures that will bring even more vacant properties back into use. The new €150 million URDF call for proposals will help local authorities transform vacant and derelict buildings and sites in order to revitalise and regenerate our cities and large towns, and deliver more housing. 

"I am delighted to be launching this plan and new call for regeneration proposals at the City Library Project at Parnell Square. This renovation project is a perfect illustration of the benefits to local communities when vacant and derelict sites are brought back into use.”