Circle VHA are delighted to announce the commencement of their direct build construction project, Railway Court, Railway Street, Dublin 1. Delivered in collaboration with Dublin City Council, Department of Housing under the Governments initiative of Housing for All.
The development in the heart of Dublin City, comprises of 47 units broken into 3,2- and 1-bedroom apartments. The development features communal facilities at ground floor level alongside a landscaped residential courtyard and play area. To promote an environmental approach 52 bicycle spaces have been applied to the specification.
This development previously a brown field site which had been vacant for a number of years known as “Liberty House” is part of the regeneration process of Dublin’s Railway Street. Not only is it a regeneration process of a derelict site, it is also a regeneration of the community of Railway Street. To bring back the community feel that once was Liberty House.
This project will be delivered over the next 18 months and will home people who have been on the local authorities housing list. We are looking forward to delivering these much-needed homes to the tenants by the end of 2024. Providing units which are being build the a high grade specification and an A grade energy rating.
Circle VHA are more than housing and are striving to bring the buildings heritage back to the community by integrating a landmark feature of this building which is nostalgic.
AIB AGREES FIRST OF ITS TYPE €20M DUAL FUNDING DEAL WITH CIRCLE VOLUNTARY HOUSING ASSOCIATION TO DELIVER C.50 HOMES IN LONG TERM INVESTMENT FACILITY
AIB has agreed a landmark €20 million funding facility with Approved Housing Body, Circle Voluntary Housing Association, for a new residential development in Dublin 1. Today, Monday 12th December, marks the breaking of ground at Railway Court, Railway Street, a new development which will comprise 47 one, two and three bedroom homes for social housing.
AIB has a long established relationship with Circle and this landmark facility enables the funding of the entire lifecycle of the project from development through to the long term ownership of newly constructed social homes as part of a 30 year investment facility.
“We’ve had a long established and trusted relationship with AIB for many years (c. €70m in borrowing from them) as we continue to work together to fund the delivery of social housing. This innovative funding facility ensures that we at Circle have a single line of sight on the provision of these 47 homes from breaking ground for construction to funding the long term ownership of the homes over the 30 year investment period. As a country, we have big targets to hit when it comes to the delivery of housing nationally. At Circle, we are always looking to ways that we can diversify our funding portfolio. We are one of AIB’s biggest customers when it comes to funding in this sector, they have and continue to be big supporters of ours and we look forward to working with them to provide these homes at Railway Court, which is part of our growing portfolio in that particular community where we manage 109 homes in the nearby Sean Treacy and Peader Kearney developments, and many more homes into the future. We’d also like to thank the Department of Housing and Dublin City Council for their continued help, support and flexibility throughout this process.”
CEO of Circle VHA – John Hannigan
For more information on partnering with Circle VHA please contact the development team.
Email: developmentteam@circlevha.ie
Supporting articles – The Irish Times 12/09/2022
