Túath Housing Association is buying the homes in Finglas and Beaumont
117 families on Dublin's housing list are to get new homes.
The Túath Housing Association is providing the homes with funding from the Housing Finance Agency and the Department of Environment.
The Association is buying new homes at An Riasc in Finglas and Thornwood in Beaumont.
The first homes are scheduled to be handed over for occupation in coming months.
The "new, high quality" homes comprise 95 houses (two, three and four bed) and 22 apartments and duplexes, and will be provided exclusively to families on Dublin City Council's waiting list.
Túath spokesperson and Chief Executive, Sean O’Connor said, “the Association is extremely pleased to have secured these high quality homes in accordance with our core remit to provide homes for those who cannot afford to provide homes for themselves in today’s difficult residential market.
"Túath will be working hard to ensure that the schemes become safe, secure and popular places where people and families choose to live and settle down in and where being a good neighbour is valued," he added.
Dublin City Council welcomed the news, with Assistant Chief Executive Dick Brady saying "these additional
family homes are very welcome, especially as they will all be delivered in 2016. There is greater demand here than in any other part of the City".