A new grant to turn empty spaces above shops into homes will be a game-changer for housing supply and revitalising town centres across Galway, Fine Gael Senator and Spokesperson for Housing, Senator PJ Murphy has said.
The new Vacant Above the Shop Grant, available from this month, will provide funding of up to €135,000 to support the conversion of vacant space above commercial premises into residential units, while retaining the commercial use at ground floor level.
An expert advice grant with funding up to €5,000 towards professional advice on conversion of above the shop space will also be made available, along with increased support for the successful Vacant Property Refurbishment Grant where former commercial properties in their entirety are being converted into more than one residential unit.
Senator Murphy said these measures represent a practical and impactful step towards addressing housing supply challenges while breathing new life into our towns and villages.
“By focusing on vacant properties and unused space above shops, we are making better use of existing buildings.
“This scheme has particular potential for towns across Galway, including Gort, Loughrea, Portumna and Ballinasloe, where vacant space above shopfronts presents a real opportunity to deliver new homes while revitalising or town centres.
“In so many of our towns across Galway, we have seen upper floors fall into disuse while housing demand continues to rise. This scheme is about reversing that trend and bringing people back to live in our town centres, supporting local businesses, and ensuring our communities remain vibrant and sustainable.
“Fine Gael has introduced a number of measures to ensure vacant properties are being brought back into use. We can’t have any idle properties and this new ‘Above The Shop Grant’ will make projects more financially viable for people to renovate.”
A grant of up to €95,000 will be available where one unit is created, up to €115,000 will be available where two units are created and up to €135,000 will be available where three or more residential units are created ‘above the shop’.
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.
“The Vacant Property Refurbishment Grant has successfully already had 16,000 applications, more than 12,000 approvals granted and over 4,400 payments made – an almost €250 million in investment," Senator Murphy added.
“In addition to receiving the current VPRG of €50,000 or €70,000, an additional €20,000 for a second residential unit created and a further €20,000 where three or more units are created will be payable going forward.”
