Land Development Agency

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Overview

The Irish Government Launches €1.25bn Land Development Agency to build 150,000 New Homes.

The Government has today (13 September, 2018) launched the Land Development Agency to build 150,000 new homes over the next 20 years, the next step of Project Ireland 2040. The new Agency has an immediate focus on managing the State’s own lands to develop new homes, and regenerate under-utilised sites. In the longer-term it will assemble strategic landbanks from a mix of public and private lands, making these available for housing in a controlled manner which brings essential long-term stability to the Irish housing market. An Taoiseach, Leo Varadkar said the LDA will come to be seen to be as significant as the decision to establish the ESB, Aer Lingus or the IDA.

The LDA will have two main functions

Coordinating appropriate State lands for regeneration and development, opening up key sites which are not being used effectively for housing delivery; and driving strategic land assembly, working with both public and private sector land owners to smooth out peaks and troughs of land supply, stabilising land values and delivering increased affordability.

The LDA is modelled on best European practice as already demonstrated in Germany and the Netherlands. By assembling land packages ahead of the planning and infrastructure stages, the Agency can lower development land costs and tackle upward pressure on house prices.

“We are going to break the boom and bust cycle of housing that has so badly affected two generations of our people in recent history. To properly break that damaging cycle in housing, we have to alter our attitude and our approach to land.”

Housing Minister, Eoghan Murphy

“This is the first time that such a requirement with state land has been put in place, this is the first time that such an agency with such a strategic focus on state land for the public good has been set up in Ireland.”

Housing Minister, Eoghan Murphy

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