NEW SOCIAL HOUSING PROJECT
NEW SOCIAL HOUSING PROJECT AND TRAINING CENTRE FOR DUBLIN CITY CENTRE
Initiative Ireland has announced that its clients have committed €1.35 million to finance the construction of a new social housing project and training centre in Dublin’s City Centre. Co-funded by the company’s impact investor community of Irish businesses and private investors, the project will provide nine additional social housing apartments and a training centre for The Paddy McGrath Housing Project, to be developed by McGrath Talbot Developments.
The Paddy McGrath Housing Project (originally The Aids Fund) was founded in 1987 by Fr Paddy McGrath. Since 1994 the fund has provided housing and care support for those living with HIV and AIDS.
Initiative Ireland was founded in 2015 by an experienced financial services team, with the goal of building an online community of impact investors who would co-fund the construction of social, affordable and mid-market housing projects nationwide. To date the company has provided over €20 million in funding to eligible projects, by way of senior secured loans, delivering much needed housing to the market nationwide.
