92 homes have been or are currently being refurbished in Cork city center due to the ‘Living Cities’ initiative. The city centre’s population increased 19% during the last census and residential vacancy decreased by 26%.
69 properties are on course to be refurbished or have been refurbished since 2015, delivering 92 residential units.
Fifteen applications were received in the first half of 2019, while fifteen ‘Living Cities’ applications were received in 2017, 11 in 2016, and just two in the first year of the scheme.
Of the 67 applications made under the scheme to date, 53 have been granted first stage certification and 14 have been granted final stage certification. A total of 34 of the applications are owner occupier and 33 are rented out for residential usage.
The Living City Initiative (LCI) is a tax incentive scheme designed to encourage people to live in the historic inner city areas of Cork, Dublin, Limerick, Waterford, Galway and Kilkenny by giving tax relief on refurbishment costs. The scheme was introduced in early May 2015 and runs until May 2020.
The scheme applies to “pre 1915” properties located within designated areas of Cork City Centre and refurbishment costs includes labour & materials, professional fees and fixtures and fittings.
Lord Mayor, Cllr John Sheehan said. “A measure of a housing scheme’s success is when local communities are seeking to have it extended into their areas and that is happening with Living Cities. Such initiatives help create a vibrant and sustainable city. We need a variety of housing solutions and this is clearly one that is working”.
For more information click here