The Living City Initiative is a scheme of property tax incentives designed to regenerate both historic buildings and other buildings in specified cities. The scheme applies to certain “special regeneration areas” (SRAs) in the centres of Dublin, Cork, Limerick, Galway, Waterford and Kilkenny. The relief applies to both residential and commercial refurbishment and conversion work that is carried out during the qualifying period only. It does not apply to “new build”.The aim of the Living City initiative is to bring life back into the heart of the relevant cities by offering tax relief for qualifying expenditure incurred on the refurbishment or conversion of certain buildings where conditions are met. 

The commercial element of the Living City initiative provides for capital allowances over a seven year period in respect of qualifying expenditure incurred on the refurbishment or conversion of a property located in a Special Regeneration Area for use for the purpose of retailing goods or the provision of services within the State. The amount of tax relief available under the commercial element of the incentive is effectively capped at €200,000 for any individual project. There is no restriction on applying for both the commercial and residential elements of the initiative.