The government has announced the expansion of a scheme to facilitate the conversion of vacant commercial buildings and above shop vacant spaces into homes.
Up to €135k is available under the new Vacant Above the Shop Grant, which opened for applications on Tuesday, 31st March.
In a statement today, Minister for Housing, Local Government and Heritage, James Browne, said it is the first time in the history of the State that this type of grant will be given to end vacancy above shops.
It has been described as a new targeted measure aimed at unlocking unused spaces in cities, towns and villages by converting vacant and derelict buildings and unused above the shop areas into residential homes.
The new measures will build on the success of a series of anti-vacancy and dereliction initiatives including the Vacant Property Refurbishment Grant which has already brought 5,200 vacant and derelict homes back into use since its launch in July 2022, the Department of Housing said.
MORE ON THE VACANT ABOVE THE SHOP GRANT
The grant is to provide funding of up to €135,000 to support bringing above the shop vacant spaces into residential use, where the commercial element is remaining.
The grant will be available for buildings in cities, towns and villages with vacant above the shop space (vacant for two years), where the ground floor is remaining commercial.
It is not required that the commercial ground floor of the premises be vacant – as the Government wants to support the ongoing commercial businesses to continue in their local area.
Currently, where an entire vacant commercial building is being converted into residential units, one Vacant Property Refurbishment Grant payment up to €70,000 is available.
Under the new top-up grant, in addition to receiving the Vacant Property Refurbishment Grant of €50,000 or €70,000, an additional €20,000 for a second residential unit and a further €20,000 where three or more units are created will be payable.
This will bring the total amount of grant support payable up to €110,000. In conjunction with the €5,000 Expert Advice Grant, a total package of up to €115,000 is being made available.
Minister James Browne TD said: “People are understandably frustrated, I am frustrated, when we see properties on our main streets and in our town centres lying idle. We are in a housing crisis, and in reacting to that, we have to pull every lever to unlock housing. We want living towns and cities that are bustling with people and families, who shop, gather and socialise in their local areas.
“I have expanded an existing grant and introduced new ones. As a result, up to €135,000 is now available to support the conversion of above the shop spaces into residential units and up to €115,000 for the conversion of entire vacant commercial buildings into homes in order to get these units moving out of vacancy.
“Both grants can also be topped up with an additional €5,000 Expert Advice Grant. I want these supports actioned and used in towns across Ireland without delay.”