Wicklow Minister Welcomes 400 Million Euro For Student Accomodation

Ministers Harris and O’Brien welcome more than €400 million investment in student accommodation

Ministers Harris and O’Brien welcome more than €400 million investment in student accommodation

Minister for Further and Higher Education, Research, Innovation and Science Simon Harris TD and Minister for Housing, Local Government and Heritage Darragh O’Brien TD today welcomed a major financing mechanism to give Higher Education Institutions the capacity to potentially deliver more than 2,700 student beds across Ireland.The European Investment Bank (EIB) and the Housing Finance Agency (HFA) have today agreed a new €434 million student accommodation financing initiative to support higher education institutions in the development of affordable student housing.In the first ever dedicated student accommodation funding deal between the EIB and the HFA, this major financing resource will be made available to deliver new and additional student beds through the construction and refurbishment of accommodation at Irish universities.Speaking today, Minister Harris said: “This is fantastic news for Irish universities and their students and I want to pay tribute to the EIB and HFA for delivering this important agreement.“Every student bed we create has a double benefit. It helps the student and their family, but it also frees up private rental accommodation in our cities and towns. This investment by the EIB and HFA will have significant benefits for access to education, and crucially to the wider housing market.”The investment announced today is separate to the Government announcement where a total of up to €61 million has been provided to unlock the development of over 1,000 beds across four universities, with delivery beginning in 2024.Minister Harris added: “This announcement will assist institutions with the cost of building accommodation and help bridge the gap between viability and affordability for students.“Applications will now open and I look forward to seeing the outcome of this important partnership.”