Launch of Cost Rental Housing Development at Innovation Square

Launch of Cost Rental Housing Development at Innovation Square, Tallaght

South Dublin County Council (SDCC) today launched the first local authority funded standalone cost rental development in Ireland.  The project, named Innovation Square and comprising 133 new homes, is in a new urban district of Tallaght known as Innovation Quarter and represents the largest single-tenure cost rental project by a local authority in Ireland to date, creating a pioneering template for delivery, funding and operation of this increasingly popular housing tenure.

Utilising an SDCC-owned brownfield site within the Innovation Quarter, for which planning was approved by the council’s elected members in October 2020, a multi-disciplinary team led by Coady Architects oversaw construction by J.J. Rhatigan under a design and build contract.  Innovation Square was delivered using modern methods of construction through offsite fabrication of precast concrete wall panels with brick finish, insulation, windows, and internal finish delivered to site complete and ready for installation, ensuring completion within a tight delivery programme.  The innovative design for modern living provides studio, one- and two-bedroom apartments in two podium blocks of up to eight storeys along with interconnecting three-bedroom homes, and also features a managed community facility, a beautifully landscaped shared courtyard, ample bicycle parking, and several car parking spaces for residents.

The central location is ideal for the rental market with proximity to major employment, retail and education centres as well as excellent transport links and amenities.  The development is an integral part of an area masterplan that saw delivery of a new link road, significant public realm enhancements creating increased permeability and a transformational necklace of public open spaces and SDCC’s new innovation centre, WorkIQ.  These adjacent projects were supported by the Urban Regeneration Development Fund (URDF) creating a gateway to regeneration of a wider area that has the potential to deliver up to 11,000 new homes and create up to 15,000 jobs under the Tallaght Local Area Plan, while also setting the benchmark for future development in the centre of Tallaght,  providing inviting and animated public spaces that foster social interaction, vibrancy, and diversity.

While officially launching the project, Tánaiste Simon Harris TD, commented,

“Innovation Square represents the best practice we need to see when it comes to delivering housing. Here we see a local authority activating a brownfield site, delivering it efficiently using modern methods of construction and using Government regeneration funds to enable an exciting area masterplan.

“The Government has been making a series of significant decisions and will continue to do so in the coming weeks, to help make more brownfield sites and apartment developments viable, to continue supporting local authorities with delivering social and affordable housing, and to do all we can do to make housing more available and more affordable for all.

“I commend all those involved in the delivery of Innovation Square which has resulted in impressive homes with security of tenure in this Tallaght Community.”

With an all-in project cost of approximately €57 million and in the context of recent inflationary and other construction market challenges, Innovation Square required a bespoke approach to funding.  SDCC’s decision to commit a loan from our own resources to fund the development followed detailed consideration and collaboration with our elected members, the Department of Housing, Local Government and Heritage (who approved grant support of €19.95 million for the project under the Affordable Housing Fund) and the Housing Agency, resulting in the first local authority funded cost rental project in Ireland.  The model ensures that rents will cover the costs of financing, construction, property management, and maintenance over a 40-year period, while delivering rents at least 25% below market rents for comparable properties in the area.

Speaking on the innovative development, Minister for Housing Local Government and Heritage, James Browne said:

 “Innovation square represents the largest single tenure cost rental project by a local authority in Ireland to date - creating an important template for delivery, funding, and operation of cost rental homes that safe, secure and affordable. I’m delighted to visit this completed development of 133 cost rental homes and see at first-hand, how the €19.95m funding from my department’s Affordable Housing Fund has supported the construction of the development.

“Families and individuals living in this development will not only be living in a beautiful new home with affordable rates but will also have peace of mind knowing that their rental tenure is secure and long term. 

“Nationally, to date, we have delivered over 3,860 new cost-rental homes. I am determined that we deliver many more schemes like this across the country”

The operating structure includes a comprehensive planned maintenance programme to maximise the long-term sustainability and benefits of the development while another unique feature of the project is that the homes are heated by Heatworks, SDCC’s district heating scheme, utilising waste heat from a nearby data centre to provide low-carbon heat to local buildings.

Colm Ward, Chief Executive of SDCC added,

“Innovation Square is a landmark achievement for SDCC, demonstrating how local authorities can lead with ambition, creativity, and responsibility. By investing in cost rental housing on a brownfield site, we are not only delivering high-quality, affordable homes but also laying the foundation for a more inclusive and sustainable urban future. This project is a catalyst for regeneration, a model for climate-conscious development, and a testament to what can be achieved through strong partnerships and community-focused planning.”

Mayor of South Dublin, Cllr. Baby Pereppadan concluded,

“Innovation Square is more than just a housing development—it’s a promise to the people of South Dublin. It offers families and individuals the opportunity to live in secure, high-quality homes at affordable rents, right in the heart of a vibrant and growing community. This project reflects our commitment to inclusive urban living, where every resident can thrive with access to excellent amenities, green spaces, and sustainable infrastructure. It’s a proud moment for our county and a meaningful step toward a better future for all.”

Cost rental housing is internationally recognised as a long-term investment in sustainable, high-quality residential developments that create greater housing opportunities for all.  With its imminent opening, Innovation Square helps to address a national and local objective to provide providing additional long-term, secure rental homes and will positively impact local housing supply, moderate rent market pricing and kickstart town centre regeneration while also expanding our district heating scheme.  In the longer-term it presents a significant initial step towards a Vienna-type model, ensuring well-maintained public housing assets that will yield significant ongoing social benefit that will only further increase when SDCC’s initial investment is repaid after 40 years.

With a range of studio, 1 and 2 bed apartments and 3 bed houses available in the development, rents will range from €950 to €1,550 based on unit type. People are invited to register their interest in the development from Thursday 3rd July. Information on how to register your interest will be shared through local press, sdcc.ie and the councils digital and social channels.

For more information, contact communications@sdublincoco.ie