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TD calls for NAMA controlled land in Galway to be used to solve housing crises

Tue, Jun 28, 2016

Independent Galway West TD Noel Grealish.

Some 600 new houses are set to be built in Galway on development land currently under NAMA control, but a local TD has demanded the organisation "step up its efforts" to dispose of more land it controls to "address the shortage of houses".

According to a briefing document on NAMA from the Department of Finance that was given to Deputy Grealish and other independent TDs, NAMA has an interest in residential sites capable of delivering more than 52,000 residential units throughout the State, and "will fund residential development in locations if and as they become commercially viable".

More than 10,000 of these were completed, under construction, or had planning permission, while almost another 10,000 had planning applications submitted or due to be submitted. Of this 20,000, three per cent (or 600) could be delivered in Galway. Separately, Finance Minister Michael Noonan, in reply to a Dáil question, says there are currently 48 hectares of residential development land in Galway controlled by NAMA debtors and receivers.


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