I have spoken to various councillors in Cork over the last few days about these 96 apartments and have been told by all of them that the intention is to use them to house people who are downsizing from their homes. The Corporation intends to purchase their homes from them for a lump sum payment and offer them an apartment in Atkins Hall to rent from the Corporation for a % of their income.
I also asked what would happen if they could not fill all 96 apartments with people downsizing and was told that some of the apartments might then be offered under the Affordable Housing scheme.
All of the people I have spoken to about this, both in the Council and in auctioneering circles, do not think that apartment values will fall if they place the people they are saying they will place in the 96 apartments. In fact, if the management of the buildiing is improved, and services added, like a bus route, shop etc, it will be an big advantage to the current residents.
Fingers crossed....