Construction is to start immediately on over 500 social housing units in Kildare, Dublin, Louth, and Wicklow, according to the government.
The 74 Kildare homes will be built at Craddockstown, Naas.
Minister Murphy said: “I am very pleased to confirm that the formal contracts have been signed for the first bundle of sites under the PPP (Private Public Partnership) social housing programme, which will deliver 534 new homes across six sites in Dublin City, South Dublin, Kildare, Louth and Wicklow County Council’s areas. This is the first of three bundles of schemes which will deliver around 1,500 new social homes and is an important and innovative delivery mechanism within Rebuilding Ireland.
"I remain committed to continuing to deliver under our targets as set out under Rebuilding Ireland. This innovative way of delivering social housing through a Public-Private Partnership structure, which will secure delivery of over 500 homes in a single bundle, represents another important means that my Department are developing in order to increase our social housing stock.”
Cathy Bryce, Director of the National Development Finance Agency (NDFA), said: “This is great news for over 500 families who need a home that fits their needs and a landmark development in providing new social housing in Ireland. The project includes accommodation for a wide range of citizens including some assisted living, senior citizen living and one bedroom accommodation.
"For the first time ever, we are extending the PPP model, which has successfully delivered high-quality roads, schools, healthcare facilities and other public buildings for the State, to deliver social housing.
"This shows PPP works for social housing and opens up an important new avenue for delivering more homes for people who need them.
"I am delighted that the hard work of five local authorities, the Department, the EIB and the NDFA has led to the successful closing of this critical project and we look forward to the delivery of these homes as quickly as possible.
"I would particularly like to thank the Minister Eoghan Murphy, Department of Housing and the Chief Executive of Dublin City Council, Owen Keegan, for their sponsorship and support in developing this new channel for social housing delivery.”
The Comhar consortium is 100% owned by Macquarie Capital Group Ltd. and supported by John Sisk & Son (Holdings) Ltd. as works contractor, Choice Housing as facilities management provider and Oaklee Housing as tenancy management provider. The project is being funded by the EIB, Bank of Ireland and Korea Development Bank.
Mark Bradshaw, Head of Infrastructure Projects for Macquarie Capital in Europe and the Americas said: “As the need for greater social and affordable housing provision continues to grow globally, awarding agencies are increasingly looking to PPP frameworks. We invest in the early development stages of projects globally, applying both balance sheet capital, development capital and infrastructure expertise to make critical projects such as this happen.
"We have a longstanding relationship of over 10 years with Sisk Group, including currently being on-site together on the €250 million Grangegorman Campus and look forward to working with them, the NDFA and Choice to deliver this vital social infrastructure development for Ireland.”