Subject to the granting of planning permission, work on the project is likely to start by the fourth quarter of 2020
An application for planning permission for Waterford's multi-million euro North Quays development will be lodged by the end of November, developer Falcon Real Estate Development Ireland has said.
Subject to the granting of planning permission, work on the project is likely to start by the fourth quarter of 2020. The eight-hectare real estate mixed use scheme was conferred SDZ (Strategic Development Zone) designation by the Government in 2016.
In the last month, members of the Piltown Municipal District were told that public infrastructure around the quays - the sustainable transport bridge and the transport hub - now have planning.
The North Quay development is being heralded as a major economic boost for Waterford and potentially the region. The total estimated investment is estimated to be €350 million in the development, phased over three to five years.
Up to 2,300 full time roles will be created during the development of the new district, with an additional 4,500 indirect jobs. Combined with the forecasted 2040 population growth of 181,000 people for the South-east, the retail market size in the South-east is expected to grow from €3.49 billion in 2015 to €6.30 billion in 2025.
The project description is a mixed use development, to include: A 13-storey, 200-room, four-star hotel and conference centre; a mixed use commercial building comprising tourism, retail, food and beverage and leisure; a seven-storey twin block comprising 12,000 square metres of prime office space; five residential buildings, with 300 riverside apartments to accommodate 500 to 600 residents delivered in a contemporaneous and phased approach, with extensive open public spaces, all designed to attract visitors from Waterford, surrounding areas and international tourists; and the location of one of Ireland’s most modern and multi-use transport hubs.