Expertise

Social Housing

Social housing is a national priority in Ireland –The Government in 2020, outlined an intention to increase social housing stock by 50,000 through local authorities, AHBs and state agencies over five years.

In addition to numerous legislative, taxation and policy changes to facilitate much needed residential development generally, the Irish Government initiatives targeted at the private sector to meet social housing needs include:

  • local authority and housing association property leasing and availability initiatives under the Social Housing Current Expenditure Programme
  • joint venture proposals under the Social Housing Public Private Partnership Programme, and
  • the Mortgage to Rent Scheme

Both indigenous and foreign investment in the sector is required in order to remedy the significant undersupply.

Our Services

Social housing investment requires bespoke legal advice. Our lawyers have sector-specific knowledge and give clear and strategic legal advice on all aspects of social housing development including:

  • Establishment of property investment vehicles
  • Property acquisition
  • Financing structures including local authority funding structures such as CALF
  • Private lending from financial institutions
  • Onward leasing, disposal and other occupational arrangements

We help clients to navigate through the legal nuances of  each social housing project in the context of the range of Government initiatives, delivery mechanisms and investment structures designed to boost social housing supply.

We bring together the requisite interdisciplinary legal support for social capital investment projects across our relevant departments – real estate, construction, planning, corporate, charities regulation, tax, financial services and public procurement.

Recommendations

Chambers & Partners, 2021

"The team offers excellent service in terms of turnaround times and its ability to advise on what is considered market standard in transactions of this nature".

Chambers & Partners, 2019

Held in “very high regard in the industry”, the team is “extremely knowledgeable”.

Recent Work

  • We represent Allied Irish Banks, p.l.c. in advancing funds to iCare, a not-for-profit AHB.  This included the proposed acquisition of multiple hundreds of residential properties under the Mortgage to Rent Scheme and availing of public funding from the DHPLG through the Capital Advance Leasing Facility (CALF) and associated payment and availability arrangement designed exclusively for AHBs.

  • We also represent Allied Irish Banks, p.l.c. in advancing funds to a vehicle backed by a commercial, real estate fund in respect of its proposed acquisition of multiple thousands of residential properties under the Mortgage to Rent Scheme and availing of public funding from the DHPLG through the Enhanced Long Term Social Housing Leasing Scheme (Enhanced Leasing) targeted at investors.

  • We are acting for multiple domestic and international pension, wealth funds and institutional investors in acquiring large portfolios of both one-off and multi-unit residential properties and simultaneously availing of public funding from the DHPLG through the CALF and Enhanced Leasing Scheme.

  • LinkedIn

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Nicola Byrne

Partner


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Vanessa Byrne

Partner


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Social Housing Flyer