Bridgegate Ardee Secures Funding in €21m Housing Boost
By ArdeePost Reporter
Bridgegate Ardee Secures Funding as Part of €21m Housing Schemes for Louth and Kildare
Ashcroft Developments has secured €21 million in financing from Bank of Ireland to advance major housing schemes in Ardee, Co. Louth, and Johnstownbridge, Co. Kildare, marking a substantial boost to regional housing supply. The funding will deliver 75 new homes in Ardee and 68 in Johnstownbridge, supporting construction momentum at a time of increasing national focus on tackling Ireland’s housing shortage.
The Ardee development, Bridgegate, already holds planning permission for 347 homes, a creche, and a community building. The newly secured financing covers 75 of those units, with Phase 2 construction scheduled to begin in 2026. Demand for housing remains particularly strong in Louth, and the Bridgegate project is considered one of the region’s most strategically important residential schemes.
Bank of Ireland Backs Expansion of Regional Housing Delivery
Bank of Ireland’s financial commitment is structured as a revolving debt facility, allowing Ashcroft to draw down funds as needed, repay as homes sell, and reinvest for future phases. This flexible model is designed to accelerate construction timelines and ensure that houses come to the market as efficiently as possible.
The bank has a long-standing relationship with Ashcroft Developments, having already supported the construction of over 200 homes across seven schemes. Nationwide, Bank of Ireland is currently financing 25,000 homes across 235 sites in 23 counties as part of its increased target of supporting 30,000 new homes through debt and equity financing.
A-Rated Homes for Growing Communities
The newly funded schemes will deliver modern, energy-efficient, A-rated homes, helping ease pressure in some of Ireland’s most in-demand regions.
- Ardee (Bridgegate): 75 homes
- Johnstownbridge (Spire View): 68 homes
- Both developments include a mix of two-, three-, and four-bedroom houses, with Spire View also offering one-bedroom maisonettes and a commercial unit.
Construction is already underway at both sites.
Alan Brunton, Managing Director of Ashcroft Developments, expressed appreciation for the continued backing from Bank of Ireland:
“Since 2015, the bank’s focused relationship management and financial backing of our housing projects have been fundamental to Ashcroft’s success. As we continue to grow, we look forward to working with Bank of Ireland in the years to come.”
Supporting Ardee and Ireland’s Long-Term Housing Needs
With housing demand remaining high, financial institutions are playing an increasingly pivotal role in enabling supply. Brian Gaffney, Head of Residential and Development Finance at Bank of Ireland, described the developments as essential for meeting real housing need:
“These new developments by Ashcroft in Louth and Kildare will deliver much-needed, A-rated homes in areas where demand is strong. Our revolving debt facilities allow developers to recycle funding, ensuring housing projects progress at pace.”
Bank of Ireland has also convened a dedicated group of housing industry stakeholders—including builders, investors, and professional bodies—to explore new ways the private sector can responsibly boost supply.
National Housing Strategy Targets 300,000 New Homes by 2030
The funding announcement coincides with the Government unveiling its new housing strategy, “Delivering Homes, Building Communities: An Action Plan on Housing Supply and Targeting Homelessness (2025–2030).”
Key goals include:
- Delivering 300,000 new homes by 2030
- Building on 137,000 homes completed since 2021
- Record state investment, including €9 billion in housing capital for 2026
- €275 billion in infrastructure spending over the next decade
The Bridgegate and Spire View developments form part of the broader national effort to increase housing supply, revitalise communities, and support sustainable growth in regional towns such as Ardee.