The decision of NAMA to sell 69 apartments in the Casino complex to an investment fund, for future rental, is a total reversal of an agreement reached with existing Casino residents that the apartments would be sold individually. It also a major blow to MCF’s policy of promoting the supply of suitably located step down accommodation in Malahide, to facilitate older residents move from larger properties to more manageable accommodation, located close to the amenities they require.
NAMA’s decision will
- Not increase housing supply in the state
- Condemn many older residents of Malahide to living in badly insulated houses, which they cannot now afford to heat or maintain, thus increasing the probability of them being hospitalised
- Reduce the availability of older houses for sale in Malahide. These would have appealed to younger families who need additional space, but cannot afford the cost of new houses now being built in Malahide, but would have the time and energy to upgrade older properties and make them more energy efficient
The inability of the Minister for Housing to influence NAMA to make decisions consistent with Government policies, as is evident from the attached correspondence, is hugely disappointing
Correspondence can be found on the attachment below