Dublin City Council unveils details of Affordable Purchase scheme.
Published on 18th February 2025
Dublin City Council has unveiled details of its Affordable Purchase scheme to include new apartments at the new Montpelier development (former O’Devaney Gardens site) in Dublin 7, which is set to launch at the end of April.
The first phase of the development will comprise 379 A-rated social, affordable and cost rental homes, a park, crèche, community space and retail units, in the northern area of the site adjacent to Thor Place and Ashford Street.
The first tranche of Affordable Purchase homes in Phase one of the development consists of 165 homes with a mix of one, two and three-bedroomed apartments and three bedroom houses will be aimed at giving households on combined salaries from €59,175 the opportunity to live in high quality city centre apartments.
This will be achieved by Dublin City Council taking approximately 20% equity in the new homes in a bid to deliver the lowest cost option for purchasers.
With the maximum equity stake level applied, a household (single or couple) with an income of € 58,047 can purchase a one-bedroom apartment in the scheme for €257,986, with a deposit of € €25,799.
Applicants can apply for further funding through the Help To Buy Scheme of up to €30,000, or 10% of the purchase price, to cover the deposit amount.
Households (an individual or couple) with an income of € 75,150 will be eligible to apply for a two-bedroom apartment, where the purchaser would pay € 334,000. Households on lower incomes, who have additional savings, may also be eligible to apply.
Members of Dublin City Council’s Strategic Policy Committee on Housing and Social Inclusion were briefed on timings and likely pricing at the development site on Tuesday February 18th.
The O’Devaney Gardens redevelopment has seen Dublin City Council partner with Bartra to deliver 1,044 new homes in the heart of Dublin City.
The initial release of Affordable Purchase apartments will be ready for occupation in February 2026, comprising 44 one-bed and 22 two-bed apartments, with the next phase of 99 units (including three bedroom houses) available in October 2026, and the balance coming on stream in March 2027 with completions in December of that year.
When the full scheme is complete, half of the A-rated homes will be delivered to Dublin City Council for social and affordable housing with a further “264 cost rental homes delivered by an Approved Housing Body.
“The majority of this development will help the State to support those most in need of new homes,” said Dublin City Council Chief Executive Richard Shakespeare.
The redevelopment of O’Devaney Gardens will transform this area, providing amenities for the community and high-quality housing. When these homes are first occupied, facilities such as creches and shops will already be on site.
Buyers can register their interest in the Affordable Purchase homes at the end April 2025 with an information website and open days where prospective purchasers can view show homes, allowing time to secure mortgage approval in principle and prepare relevant documents for the formal application process.
The DCC Affordable Purchase portal is anticipated to open in June 2025 for formal application submissions.
O’Devaney Gardens will be one of Europe’s most sustainable developments. It aims to support the development of a thriving local economy and meet the needs of future residents.
The development has been designed to foster community spirit, enhance resident wellness and provide a sustainable lifestyle.
The level of community and local representative involvement in a regular monthly forum over the past two years is being seen as an example of how communications and engagement should work in shaping new communities.
