Government set to launch new agency that will build 150,000 new homes
They're expected to be built over the next 20 years.
The Government is set to formally announce plans to create a new Land Development Agency, which it says will coordinate State owned lands for regeneration and development, and open up sites for the provision of housing.
Taoiseach Leo Varadkar is set to make the announcement this morning alongside Housing Minister Eoghan Murphy and Social Protection Minister Regina Doherty.
The main focus of the Land Development Agency will be on buying existing land owned by state organisations/ departments and selling it on to developers to ensure new homes are built quickly.
It's understood that one third of the homes that are set to be built on State lands must be affordable ones.
RTÉ reports that 150,000 homes are expected to be built over the next 20 years and these will will include social, affordable and private homes. In terms of the immediate future, from this figure, 20,000 houses in Dublin, its commuter belt and other parts of the country are expected to be built in the coming years.
With a fund of €1.25 billion to invest, this new agency will have the power to use State land and to buy private lands on which potentially thousands of homes will be built across the country.