A new place of accommodation for homeless children under the age of 16 is to be run jointly by the Eastern Health Board and St Jude's Trust for Homeless Children.
The home, at St Jude's House, on Richmond Road, in north Dublin, will operate as a short-term facility for children who are "out of home".
After three years it will revert to its original purpose as a long-term facility for children who are out of home.
The chief executive and founder of St Jude's Trust, Mr Michael Joyce, said the trust was happy to reach an agreement with the EHB which addressed the immediate short-term issues. Children in those circumstances needed stability not turmoil in their lives, he said.
St Jude's was bought, renovated and refurbished without any aid from Government or local authority sources, the trust said. All funds were raised from private sources.