Seventy one Limerick homes purchased for €17m

TWENTY five further families have a brand new home after unlocking the door to a new life in Mungret.

Co-operative Housing Ireland (CHI) confirmed to the Leader they have acquired a further 25 homes in Baunacloka Heights, Mungret for just over €6m.

It is the second phase of CHI's project in Mungret. Last year, they purchased 46 houses in the same development for just over €11m. In total, they have delivered 71 homes for €17m.

CHI is the national organisation representing, promoting and developing co-operative housing in Ireland.

David Ryan, CHI regional housing services manager, said they are all two and three bedroom abodes with a mix of semi-detached, terraced and apartments. Mr Ryan said the allocations process is nearing completion.

Unsurprisingly, Mr Ryan said there has been great interest in the scheme and positive feedback to date.

“Approved applicants from Limerick City and County Council’s housing waiting list were sent to CHI, who carry out assessments and interview the families. CHI work closely with city and county councils to provide homes to people on local housing lists.

“We do this by developing strong relationships with builders and developers. Key to our model is the involvement and engagement of our members at all levels,” said Mr Ryan.

Rent is based on Limerick City and County Council’s Differential Rent Scheme, therefore it is income based and affordable.

He explains that each household in Mungret will be a member of the Ralahine Housing Co-operative and may participate in its board and participate in CHI cooperative structures.

“Members have a say in the running of the co-operative, the management of estates, hosting community events and can propose to elect representatives on to the national board of CHI.

“Co-operatives are based on the values of self-help, self-responsibility, democracy, equality, equity and solidarity. In the tradition of their founders, co-operative members believe in the ethical values of honesty, openness, social responsibility and caring for others,” said Mr Ryan.

He continues: “The estate will be managed by staff at our local office in Limerick. CHI take the approach of it being member led, and we hope the new members will take the lead in setting up a committee onsite to liaise with our housing officer around the upkeep of the estate and community activities.”

The development was achieved through partnership with Limerick City and County Council, the Housing Finance Agency, and the Department of Housing, Local Government and Heritage.

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