Legal News (Construction)

The Covid-19 pandemic has impacted the providers of housing in a number of ways, operationally (in terms of new development, governance and ongoing operations) and financially.

We recently outlined the importance of holding an initial meeting on a residential development transaction. It assists the parties to identify potential issues which may arise during the course of the transaction, and the solutions that may be available to resolve such issues.

Minister for Housing, Local Government and Heritage, Darragh O’Brien TD, recently announced a €3.1 billion housing budget. Minister O’Brien noted that Budget 2021 will be the largest social housing build programme in the history of the State.

In our experience, with any type of financing, an initial meeting is an effective way to identify potential issues which may arise during the course of a transaction and the solutions that may be available to resolve such issues so as to avoid unnecessary delays at a later stage.

Catherine Jane O’Rourke and Danny Heffernan recently wrote about the impact of Covid-19 on the efforts being made to address the housing crisis. We are glad to say many sites have since re-opened and construction work has re-commenced.

Prior to COVID-19, the housing crisis was at the forefront of national debate and there is no doubt it was the key issue which dominated the recent general election. The crisis has been further impacted by the halting of construction work in response to the COVID-19 pandemic.