Significant Increase In Number Of NAMA Properties Selected

Minister for Housing Jan O'Sullivan, TD, has announced that she expected a significant increase in the number of NAMA properties selected and delivered for social housing in 2013.

NAMA has been working in partnership with the Department to identify properties that may be suitable for social housing.

Minister O'Sullivan was speaking at Scotch Hall in Drogheda where she visited families who have moved into properties provided as a result of this engagement with NAMA. The 15 properties in Drogheda are owned and managed by Túath Housing Association. To date, Túath has acquired a total of 68 properties for social housing through this process. Properties can be made available through leasing or purchase arrangements.

She said: "The Government is committed to securing social housing from the NAMA portfolio. In the past 12 months Minister Hogan and I have worked closely with all parties, including the Housing Agency, local authorities, the Approved Housing Bodies and NAMA, to overcome the legal and other obstacles that were impeding the availability of suitable properties for social housing. That work is now complete and I expect a significant increase in the number of properties that will become available in 2013."


Among the important initiatives finalised in 2012 which will make a significant impact this year were:

•The establishment by NAMA of a special purpose vehicle to take ownership of properties where there is an established demand – thereby enabling the direct negotiation of leases with approved housing bodies.

•Agreement between NAMA and Approved Housing Bodies of a framework for leases that can apply in the vast majority of cases.

•The announcement in Budget 2013 by Minister Howlin of €10m in funding which will drive the process in the coming year.

According to Minister O'Sullivan: "These initiatives will go a long way to addressing the roadblocks that have delayed the availability and take-up of significant numbers of properties to date. NAMA has put forward a significant number of properties, but we need to streamline the process whereby suitable properties are selected, the transfer to social use takes place and families are provided with quality housing."

(CD)