Ferrard Court, a brand-new residential development, will include 34 cost rental homes being delivered by Tuath in partnership with Louth County Council, The Department of Housing, Local Government and Heritage, The Housing Agency and the Housing Finance Agency HFA). Conveniently located near Drogheda Institute on the Twenties Lane, the development features an enticing mix of two- and three-bedroom apartments and duplexes, promising comfort, modernity, and a sense of belonging for future residents. Ferrard Court marks the first-ever delivery of cost rental homes in County Louth under this scheme and presents an exciting opportunity for individuals and families, with a net household income below €59,000 a year, to secure long term safe, secure and affordable housing.
Funded through the Cost Rental Equity Loan (CREL) scheme, the homes at Ferrard Court will offer rents that are nearly 30% below the local market rates for similar dwellings. With rental prices set at an affordable €1,050 and €1,106 per month for the two-bedroom apartments, and €1,150 per month for the three-bedroom duplexes, these homes will redefine accessibility to quality housing in the region. The application process is live on the Tuath website from Tuesday, 1st of August. The allocation of homes will be conducted through a lottery system, and successful applicants can expect to move into their homes in September/October.
Under the cost-rental scheme, tenants benefit from rents based on the actual cost of building, managing, and maintaining the properties, rather than being influenced by market rates. This unique approach grants long-term security of tenure, providing reassurance against rent fluctuations, fostering stability and a sense of community. Tuath is Ireland’s leading provider of cost rental housing with the delivery of over 300 cost rental homes to date in counties Dublin, Kildare and Louth. The Association currently has over 2,500 homes on site nationwide, including an additional 300 plus cost rental homes that will see delivery expanded to Cork City and County.