Mayor reveals estimated cost of modular homes he has planned for Limerick

THE COST of rolling out rapid-build modular homes in Limerick “will probably be a billion euro”, Mayor John Moran has said.

As part of his flagship policy to try and solve the housing crisis in Limerick, the first citizen is planning more than 2,000 of these temporary homes, which, he hopes, will act as a bridge to permanent housing for people.

The benefit of these is they can be erected in quick order.

Two demonstrator modular units have been erected at Arthur’s Quay Park in the city centre, with the public being asked their thoughts, and these will remain in place until October.

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But to put rocket fuel under his plan and get moving on these homes, Mayor Moran has revealed the 10-figure sum which will likely be needed.

He made the comments at the autumn luncheon of Limerick Civic Trust in the Savoy Hotel, where he was the keynote speaker.

The mayor is hoping to adopt the so-called Vienna Model of housing.

Adopted in the Austrian capital city, it works on the basis of building homes through loans, and repaying this back on the rent they generate.

It’s unclear where the money will come from, with Mayor Moran previously suggesting an arm's length firm be set up - in a similar manner to Limerick Twenty Thirty - in order to draw down funds from the private sector.

Ten sites across the city have been identified, in a move which could provide accommodation for 2,500 people.

Speaking of the money, he said: “It’s a billion euro which will be paid off by the rent of the tenants over time. There will be some lucky mayor standing up here in 30 years’ time when the funding has been paid off, and there is still 30 years more left on these buildings, so they can say they will have rental income coming into these buildings to do more with,” he said.

“Unfortunately, we didn’t start 40 years ago like Vienna did, but we have to start somewhere,” the mayor concluded.

Among the lands identified by Mayor Moran to deliver new homes are the Boro Park in Janesboro, Clarina Park in Ballinacurra Weston, Pineview Gardens in Moyross and the former Guinness site in Upper Carey’s Road.