Skip to main content

NAMA Not Housing Poor People...

NAMA under fire for failing to help house poor people.

ENVIRONMENT Minister Phil Hogan is embroiled in a row with NAMA over whether the agency is doing enough to house poor people.

The minister said he was unhappy with the toxic assets agency for not selling properties under its control at a discount to his department.

These could then be used to house those on council housing waiting lists.

But the department was unable yesterday to identify specific areas in need of social housing where NAMA had a stockpile of suitable properties.

And NAMA has no specific legal obligation to help to resolve the social housing problem.

The law setting up the agency says that one of its purposes is "to contribute to the social and economic development of the State".

But there is no mention about handing over specific numbers of properties for social housing.

So far just 58 apartments in the Beacon South Quarter, Sandyford, which had been in NAMA, have been purchased by a voluntary housing group at a discounted rate for social and affordable housing.

Mr Hogan said NAMA was more interested in making a profit on large-scale developments rather than fulfilling the "social dividend" set down in its business plan.

"We have spoken to them but with very little success," said Mr Hogan, who was speaking at the National Housing Conference in Dublin Castle yesterday.

"The Minister for Finance and the Government generally will have to engage with the view to getting a better outcome.

"We are finding it very difficult to get sufficient properties for people on the housing list."

Priority

Mr Hogan said that " thousands and thousands" of extra people had joined this list.

But last night a NAMA spokesman told the Irish Independent that promoting social housing was a key priority for the agency and that it was working "very closely" with the department in this regard.

There are about 100,000 households on the local authority housing waiting list, up from 58,000 in 2008.

Those who get social housing pay a fixed rent to a local authority -- which then takes responsibility for the maintenance of the property.

Report by Treacy Hogan - Irish Independent

Popular posts from this blog

More Allsop Fire Sales...

Allsop plans five fire sales a year... THE UK auction house Allsop and its Irish affiliate Space plans to hold up to five distressed property auctions a year following the success of its first auction last Friday when 81 out of 82 lots were sold for a total of €15 million. The next auction is scheduled for July 7th, when 200 lots will be auctioned, including apartments, tenanted shops, farms and houses. According to Space director Stephen McCarthy, his company is being inundated with requests from receivers, banks and individuals who want to sell their property fast. Many of the properties in Friday’s auction were sold by Bank of Scotland Ireland and it’s believe there is plenty more of this stock to sell. These include apartments in the Castleforbes development in the Dublin docklands, as well as units in Dublin 8 and in Castleknock. However, the agency is also considering taking on more agricultural land. One lot, a 55 acre farm in Co Wickow sold particularly well, making €42...

As Featured On Dublin Postcards, Ad's, U2 Video...

I see in the Irish Independent today an item concerning a favourite, Dublin landmark, of mine... "THEY have featured in numerous postcards and a very famous Guinness ad, but perhaps their most important cameo appearance came when they featured in U2s 'Pride (In The Name Of Love)' video. However, Dublin City Council does not believe the Poolbeg chimneys are iconic enough to place on their Record of Protected Structures. Following a request from Cllr Dermot Lacey (Lab) to have the landmark ESB chimneys placed on the protected record, city councillors heard that city planners had conducted a survey, history and full assessment of the chimneys. They concluded from this that while the Poolbeg chimneys were considered to be of a certain level of architectural, social and historical significance, they were not of sufficient value within the meaning of the Planning and Development Act, 2000. Complex The twin red and white chimney stacks measure 680 feet in height and were construc...

Property Ireland - Irish Land Values Go Up Like A Rocket & Fall Like A Stone...

Land values go up like a rocket and fall like a stone... SITE EVALUATION: Why would a developer bid €225,000 an acre in 1999 and €2.8m an acre in 2007? Bill Nowlan explains WHY HAS THE value of development land fallen so precipitously, by over 50 per cent in the past 12 months, when residential and other property values have only fallen by 25 per cent or 30 per cent? There is an old property cliché which says that "land values go up like a rocket and fall like a stone" and this seems to have been bourne out in Ireland over recent years. Why does this happen? To answer this question requires an insight into the way developers prepare their bids for development land and I set out below a glimpse into that process. Let me start by looking at how a developer in normal times estimates his bid for a plot of land with planning permission, which in estate agents' parlance is ready-to-go. The key starting point in a developers equations is the expected sale price of the finished b...