From top: Co-living was welcomed by the real estate trade; Minister for Housing Darrah O’Brien
This morning/afternoon.
After a rush of planning application, the building Co-living developments – in which residents get a private bedroom in a furnished home with shared common area – is to be halted.
Via RTÉ:
Minister for Housing Darragh O’Brien said he was concerned that the high number of applications coupled with the high density of the developments would increase land prices.
“By allowing permissions to extract higher units of beds in a single development and combined with the higher than anticipated number of applications this has the potential to have negative repercussions for other development types, such as affordable purchase or cost rental that the Programme for Government is committed to promoting” he said.
Meanwhile…
Social Democrats Housing spokesperson and Dublin Bay North TD, Cian O’Callaghan
“The ban on co-living developments is long overdue. The Government must now draw a line in the sand under these shoddy housing policies.
“At the heart of the co-living plan was a desire to drive down standards, forcing people to live in shoeboxes so that developers could squeeze every last cent out of a site. Today’s decision by the Minister for Housing is a recognition that this was wrong.”
Co-Living: The Story So Far (CBRE)
Good news, an end to this lunatic idea, yay :)
Good news on a Monday :)
Till the next brown envelope then.
let’s unpack this imbeciles statement.
“..he was concerned that the high number of applications coupled with the high density of the developments would increase land prices..”
minister has revelation-duh-discovers a correlation btw zoning and pricing- Eureka
is the minister really this dumb-does he think say Barret in Dun Laoghire is now going pivot to… “affordable purchase or cost rental that the Programme for Government is committed to promoting”..duh.
…he should hand back his salary for fraud, masquerading as a housing minister,only positive thing is hes grossly incompetent and ignorant must be scaring the sh*t out your yank landlords and overlords.
https://www.gq.com/story/inside-welive
A blanket ban on all those developments will decrease land prices, which in turn will make it slightly more affordable to build homes.
Land prices are mostly driven by speculation and “potential” – if a plot of land could fit 100 beds in a dodgy co-living development, it might lead to more profits for a developer than 30 or 40 apartments on the same plot would (i have no idea what minimum apt size is vs co-living sizes).
So if that potential high-density high-profit low-standards development is no longer an option, that land price falls as the land now has less potential for earnings.
It is in no way going to drive private developers to make affordable homes as priority – nor should it. The minister shouldn’t be tasked with forcing private developers to do anything – state & affordable housing should be developed by state.
So stop the faux outrage and whining
…great,so the minister has now exposed the state for damages due, to a collapse in value of sites caused by this sudden and dramatic change in policy and downzoning……Arthur,Arthur Cox please yes I’d like make a claim …. :)
???
How could the state be liable for damages due to decrease of value of an asset?
every day is a school day,wha…
“Diminution in value is a legal term of art used when calculating damages in a legal dispute, and describes a measure of value lost due to a circumstance or set of circumstances that caused the loss. Specifically, it measures the value of something before and after the causative act or omission creating the lost value in order to calculate compensatory damages.”
https://en.wikipedia.org/wiki/Diminution_in_value
Wasn’t it Murphy who said they were just like a boutique hotel?
Hostel living. They may look pretty, but in a few years you’ll have families having to move in because there’s nothing else in their budgets, meanwhile landlords are coining it in because there’s 1 kitchen to 40 people. It’s only marginally better than a bedkitch.
..ah would you stop,they great when done right,check out WeLive its the future.
130,000,000 MILLION of investement-killed by incompetence and ignorant FF/FG
–
yet microsoft builds a similar space,gets Govt and IDA to support it- probably kicked in few more tax breaks.
“Bartra Capital is to spend €130 million constructing the four co-living sites it has planned for Dublin”
https://www.irishtimes.com/business/commercial-property/bartra-capital-to-spend-130m-on-four-co-living-sites-in-dublin-1.4340396
close the door and turn off the lights Richard.
the weak point in your assertion is ‘when they’re done right’. they might work in an environment of plentiful alternate supply, tenant protection and robust housing law but that ain’t us, buddy.
yeah….trust the plan.
No one was forcing anyone live in these,the govt is constantly interfering to the benefit of its base,artificially inflating existing house prices and distorting the market.
They are the future,will play a increasing role in housing going forward.Allows you say live near surf break in mayo,but if you have be in Dublin few days week/month you can rent one these as your Dublin dojo.
Working from home is here to stay,co living has a vital and very important role in the future.
DB on the future.
“Finally, what to do with our empty city centres? As offices and shops downsize or vacate, we postulate that one way to avoid zombie cities is to consider ‘radical urbanism’. This empowers new residents to take over city centres and develop them largely as they see fit. We detail how this can work.”
https://www.dbresearch.com/PROD/RPS_EN-PROD/PROD0000000000513730/Konzept_%23_19%3A_What_we_must_do_to_rebuild.PDF?&&undefined&realload=h99xWeiGuhmSci0z/3oTtJwUkgSFSK5gErEUNK0mpiT6wZJOzvrA00j66~tyOQFG0m15XFC8i/QiMQ2XbHlNIQ==
If you have money to keep a lease on a couple of properties, you won’t be wasting it on a co living space you’ll only use a couple of times a month. You can’t rent them nightly, like a hostel, so why waste a month’s rent when you can spend half of that on a few nights in a decent hotel?
A shared kitchen with 40 ? That’s just hell, there would be murder, some people’s idea of clean alone …grim, plus the odds are you are garanteed some creep nattering at you.
i was just trying to be friendly
..i actually ‘lived’ in the wall st one when i was based full time in LA and back forth to NY,for 3 months,only ‘used’ the kitchen to grab the free coffee why on earth would you ‘cook’ its for fast paced,young people,who may be moving between different cities and want be away from the BS in hotels…
many corporations also rent them and allow out of town staff/guests use them.
they great and part of a mosaic of modern options in futuristic cities for hosuing,not a silver bullet nor a solution,but more like,say a white cheese pizza slice,a niche.
dept report here-out and about this afternoon-will try have read later-do short write up.
https://www.gov.ie/en/publication/92b06-co-living-shared-accommodation-report/
may be bit yank but then the whole thing is, a recent Cushman report here.
https://www.cushmanwakefield.com/en/insights/covid-19/coliving-during-covid-19?utm_source=PR&utm_medium=referral&utm_campaign=ColivingDuringCOVID19
Update: Now Murphy has come out against them, a mere two years after he brought the legislation allowing them in as he agrees there are too many in the pipeline. Can’t make this stuff up!
No doubt the FG fanboys and girls will probably conveniently ignore/play down the former co-living cheerleader’s change of mind and keep pushing these as an “exciting alternative”. Cognitive dissonance is off the chart with that lot.
https://www.irishtimes.com/news/ireland/irish-news/former-minister-for-housing-backs-co-living-ban-1.4417335