The Secure Tenancy Affordable Rental (STAR) Scheme

Introduction

In a previous article, we discussed the current State initiatives that aim to deliver social and affordable housing in Ireland. In this update, we put one of these initiatives under the spotlight: the Secure Tenancy Affordable Rental Scheme (the "STAR Scheme"), the purpose of which is to offer long-term stability and affordability for lower income renters that fall outside the income eligibility criteria for social housing.

Main Characteristics

The STAR Scheme is operated by the Housing Agency (the "HA") and is open to all potential housing developers. It aims to make available up to 4,000 cost rental homes in the private rental sector to assist eligible households experiencing rent affordability pressures. It does this through an equity investment to developers for the acquisition and development of residential schemes on condition that the residential units are then designated as cost rental homes. Up to €750 million of State funds have been