THE sense of desperation to get a foot on the property ladder among first-time buyers was demonstrated once again this week, when Taoiseach Bertie Ahern launched the latest affordable housing development on North Great Charles Street in the north city.
The 29 one- and two-bed apartments developed by the Thornsett Group, were sold to lucky buyers whose names were drawn in a lottery which thousands had entered.
And with one-beds selling at just 168,000 and two-beds at 259,000, it's easy to see the appeal.
Under the Affordable Housing Scheme operated by Dublin City Council, anyone earning up to but not more than 40,000 (in the previous tax year), can apply, and in some cases those earning up to 65,000 can apply.
A public/private partnership between the Thornsett Group and Dublin City Council, this scheme at 55 North Great Charles Street, just off Mountjoy Square, comprises 11 one-bed units and 18 two-beds.
The Thornsett Group, which is primarily a provider of private housing and commercial developments, purchased the site back in 2003 and submitted a proposal to Dublin City Council to provide a 'turnkey' development. The site originally consisted of office and warehouse space and the new development took just 22 months from agreement to completion.
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