Social and Affordable Housing
The Social Housing sector in Ireland is experiencing unprecedented strain. There are over 80,000 households awaiting social housing, 7,000 homeless and over 50,000 mortgages in long term arrears.
The scale of delivery required and the current challenges in the housing sector are significant. There is no individual solution but rather a number of models required to tackle this issue.
Almost 40% of social housing built in Ireland in 2019 was constructed by Non-Governmental Organisations (NGOs). Gone are the old days of relying on the government to support the Social Housing Sector as we welcome investment from Approved Housing Bodies, Private Sector Participation and Foreign Investment Funds.
"We understand our clients’ need for timely, bespoke service with a commercial, solution-based focus"
Our Social Housing Team works with a variety of clients in the Social Housing market. Clients include domestic and international private investors, investment funds, lenders and charitable organisations. The Social Housing Team works closely with our Firm’s other Departments, particularly Corporate, Real Estate, Litigation and Banking & Finance, to deliver a seamless service to our clients for each transaction.
We advise social housing clients in the areas of:
- Property & Construction (land acquisitions and disposals, site assembly, development agreements, joint ventures, building contracts, grant and funding agreements)
- Banking & Finance (acting for borrowers and lenders on various funding arrangements, advising on loan facility documentation, note purchase agreements and aggregated bond loans)
- Litigation (development issues including site clearance and possession, leasehold issues, lease renewals)
- Corporate (advising on mergers and acquisitions, corporate joint ventures, exclusivity agreements and development projects)
- Acted for Irish and international property investors in the acquisition of existing residential properties for social housing
- Acting for a property investor in the acquisition of development sites for social housing
- Advising an entrant to the market on the statutory framework for social housing in Ireland
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