Housing Minister Gordon Lyons has announced funding for Maple & May to deliver 300 new affordable rental homes across Northern Ireland, as part of the government's new Intermediate Rent scheme. The initiative aims to address the growing demand for affordable housing by providing homes at below-market rents for lower-income households.

The Intermediate Rent scheme is a new product for the Northern Ireland housing market, designed to offer high-quality, long-term housing at discounted rents. This initiative targets individuals and families struggling with the rising costs of private rentals, as well as those saving for home ownership. Some of the new homes are expected to begin construction within the next year.

Minister Lyons stated: "As Minister for Housing, I am determined to increase the supply of good quality, affordable housing, and to expand the affordable housing options available to people and families. This commitment is outlined not only in the Housing Supply Strategy, but also in the Programme for Government. I am pleased to reach this significant milestone, partnering with Maple & May to deliver the first affordable rent homes here as Intermediate Rent Operator. These will be high quality new build houses, providing excellent homes." The new homes will be situated in areas of housing need, both within mixed-tenure developments alongside social and private housing, and as standalone Intermediate Rent sites. Rents will be set at least 20% below market levels for the locality, making them more accessible to eligible lower-income households.

"Many hard working people and families are struggling to access a home suited to their needs, made worse by increasing rents and insecurity in the private rented sector, while demand continues to exceed supply for social homes. Providing affordable homes for rent is an important step in addressing that need," Minister Lyons added.

The funding amount for the project is yet to be confirmed. The Department for Communities will collaborate with Maple & May to expedite the delivery of the homes, with the ambition of having the first tenancies in place by late 2026.

Jon Anderson, Development Director at Maple & May, said: "We believe that people deserve great services and standards in homes and this is an exciting opportunity for Maple and May to deliver 300 new affordable homes across Northern Ireland. As the first Intermediate Rent Operator in Northern Ireland, we plan to address housing need by building intermediate homes for rent, both within mixed tenure developments, alongside social and private homes, and as standalone Intermediate Rent sites enabling further options for eligible lower income households to apply for a high quality and stable home at a more affordable rent."

The initiative is part of the Executive's wider Housing Supply Strategy, which aims to tackle housing issues through innovative and collaborative efforts across government, the housing sector, and the private sector.

Minister Lyons' Written Statement can be accessed on the Northern Ireland Assembly website.