Eversheds Sutherland advises on first Irish social housing PPP project
Eversheds Sutherland acted as the legal adviser on Ireland’s first social housing public private partnership (PPP) project.
The international law firm advised the National Development Finance Agency (NDFA), acting as agent for the Department of Housing Planning and Local Government and Dublin City Council, as lead local authority, on the project, which reached financial close last week.
The project involves Comhar Housing, a consortium comprising Macquarie Capital (Macquarie), John Sisk & Son Ltd. (Sisk) and Choice Housing Ireland Limited (Choice), in the delivery of 534 social housing units.
Eversheds Sutherland are the legal advisers for the Social Housing PPP Programme, consisting of three bundles that will ultimately deliver 1500 new homes in the coming years.
Angelyn Rowan, partner in the firm’s projects, construction and PPP team, said: “Eversheds Sutherland is delighted to have been involved in this important project. As the legal advisors on Ireland’s first PPP in the area of social housing, we are very pleased that construction of the new homes under this programme will now commence in counties Dublin, Louth, Kildare and Wicklow.
“It has been a privilege for me and my team to have worked on this project to date in collaboration with the NDFA, the Department and the relevant local authorities and we now look forward to progressing the next two bundles of this important programme.”
Bundle 1 of the Social Housing PPP programme encompasses the financing, design, construction and maintenance of six social housing developments creating over 530 new homes and apartments. Bundle 1 is being funded by the European Investment Bank, Bank of Ireland and Korea Development Bank.