Bank of Ireland has committed to providing €35m in finance for new 142-unit development in Haggardstown, Dundalk, Co. Louth.
The new development in Dundalk will see the delivery of 142 apartment units which will be allocated towards the provision of much needed social housing.
Bank of Ireland has committed funding for the project and said the transaction allows it to play its part in supporting the delivery of quality housing whist also supporting Bluemont.
“We are delighted to demonstrate our support for our house builders in delivering much needed homes across the country, a key priority for Bank of Ireland. Socially impactful, sustainable schemes such as this will be critical in that delivery”
On completion, the new homes will offer high quality living with excellent energy efficiency, which is a strategic priority for the Group.
The project promises to deliver an environmentally responsible low-impact development, aligning with Bluemont’s and Bank of Ireland’s commitment to sustainability. Each unit will be constructed to a minimum BER A3 Rating, ensuring long-term energy efficiency and lower utility costs for tenants.
Strong pipeline
The project aligns with Bank of Ireland’s recently updated ambition to support the construction of 30,000 homes across Ireland – an increase from its previous target of 25,000.
“We are thrilled to partner with Bluemont on this transaction and I would like to thank them for their ongoing support,” said Andrew Conway, Associate Director, National Housing at Bank of Ireland Corporate & Commercial Banking.
“Once again, we are delighted to demonstrate our support for our house builders in delivering much needed homes across the country, a key priority for Bank of Ireland. Socially impactful, sustainable schemes such as this will be critical in that delivery’.
Bluemont have successfully delivered over 500 high quality homes in recent years including Carrs Lane, a development of 60 apartments which was shortlisted for an Irish Construction Excellence Awards for Social and Affordable Housing.
“Bluemont is delighted to complete our latest transaction with Bank of Ireland which secures financing of our Dundalk development,” said Sean Corroon, CFO, Bluemont.
“With a strong pipeline of over 1,000 units at various stages of planning and construction, Bluemont continue to build high quality homes throughout Ireland and we are grateful for the strong support from Bank of Ireland.”
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