Tuath Housing provided homes for more than 7,000 people across 16 local authorities nationwide last year, according to its annual report.
A total of 2,482 homes were delivered in 2023 and more than 450 cost rental homes have been delivered to date, the not-for-profit body said.
The average affordable rent of €1,264 per month for cost rental properties represented a 32% discount on open market rental values.
The approved housing body said €406 million was invested in building and acquiring new homes in 2023.
The historical cost value of the housing stock stands at €1.9 billion, which the association has said “reflects robust financial health”.
It also secured the first Credit Union debt facility of €25 million.
The organisation reported an annual income of €134 million last year, which enabled it to increase its workforce to 215 employees across five offices nationwide.
Disused office block converted into 35 homes
In 2023, further sustainability goals were reached as Tuath recorded a 7% reduction in its carbon footprint.
It also completed energy upgrade works on a further 185 homes under its retrofit programme as it also joined Circular Reno, a European Union funded project aiming to implement scalable biobased deep energy retrofit packages of facade and roof systems using various biobased materials.
As part of its focus on sustainability, it converted a disused office block in Cork city into 35 new homes, which it said highlighted opportunities to create homes from empty commercial spaces in urban areas.
“Springville House’s evolution from a derelict 1970s office block into a vibrant residential complex in Cork city centre was a testament to the power of innovation, collaboration, and sustainable development,” it said.
Tuath said that the “ambitious redevelopment project not only addressed the pressing need for affordable housing in a high demand area of the city but also exemplified a commitment to environmental responsibility and community engagement”.
The report also noted that 330 out of 700 modular homes for those fleeing war in Ukraine have been delivered.
Approved housing bodies’ have ‘critical role’
Since it was established in 2000, the not-for profit association said it has housed 34,000 people nationwide.
A total of 5,810 houses have been provided in Dublin; 1,665 in Cork; 1,058 in Kildare; 992 in Meath and 658 in Co Louth.
Launching the report, Housing Agency CEO Bob Jordan emphasised “the critical role” of approved housing bodies in addressing Ireland’s housing needs.
He said Tuath played a crucial role in the rollout of cost-rental homes.
“Cost rental is already having a transformative effect on the experience of private rented tenants, in terms of housing quality, security of tenure, and professional management.”, he said.
