The St Waleran's House and 75 acres of adjoining zoned lands at Ballytegan, Gorey, will be redeveloped for affordable, social and private housing, together with a range of community/amenity and educational facilities.
The council will now look to prepare a master plan for the future development of the site.
Mr Tom Enright, Chief Executive of Wexford County Council, said: "I want to congratulate our staff on securing this highly strategic development site. The acquisition of these lands and their development over the next number of years is a game-changer in our efforts to secure the provision of much needed facilities within the thriving and rapidly expanding area of North Wexford."
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Locally based Minister of State at the Department of Finance and the Department of Public Expenditure and Reform, Mr Michael D'Arcy TD, added: "I am delighted that Wexford County Council had shown such leadership in acquiring this major development site in Gorey which has the potential to provide a range of ambitious new public facilities for North Wexford. I look forward to working closely with the Council in supporting and securing the funding that will be required for the future development of this site and to ensure the realisation of its full potential over the coming years."
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