Cost rental scheme launched in Youghal

A cost rental scheme has been launched in the coastal town of Youghal.

This development of newly built, A-rated, family homes in Silverwood is close to local amenities including Blue Flag beaches, the coastal boardwalk, schools, and transport links via the N25.

There are six three-bedroomed, mid and end of terrace houses and two 4-bedroomed, end of terrace houses, and the rent is at least 26% below private market rents in the area.

Applications for the new three and four bedroomed houses at Silverwood will open at 12 noon on Monday 20 April. The scheme is aimed at people who do not own a home, are above the threshold for social housing but have difficulty affording private rented accommodation.

Cost rental provides a secure tenancy at a rent that is below the market rent in the local area and is a long-term secure rental option. This tenure of rental property is supported by the Department of Housing, Local Government and Heritage.

Mayor of the County of Cork Cllr Mary Linehan Foley said: “Cork County Council is delighted to announce the launch of this Cost Rental Scheme in Youghal. This development represents a major step forward in providing secure, affordable rental options for individuals and families who are above the threshold for social housing but find private rents unaffordable.

“Silverwood is a fantastic location, combining coastal living with excellent connectivity, and this initiative reflects our ongoing progress in achieving the targets set by the Government.”

Houses will be allocated on a lottery basis to applicants who have submitted all the required documentation and who are deemed eligible for the scheme. Renters will enter a tenancy arrangement with Cork County Council.