Developer Falcon Real Estate Development Ireland has submitted an application for planning permission for the project.
Waterford North Quays will consist of a thirteen storey 200-room 4-star hotel and conference centre; a mixed use commercial building comprising tourism, retail, food & beverage and leisure; a seven-storey twin block comprising 12,000 square metres of prime office space; and five residential buildings accommodating 500-600 residents. It will also become the home to one of Ireland's most modern and multi-nodal sustainable transport hubs.
The North Quays development will provide over 2,800 new jobs on site by 2023.
The planned completed integration of the scheme with the existing urban centre of the City will confirm Waterford as the Gateway City of the South East Region, increasing regional and national visitation and tourism which will serve to reverse regional economic leakage in retail, tourism and talent/jobs, but also act as catalyst for Ireland 2040.
-- Advertisement --
Subject to the granting of planning permission, work on the project is likely to start by the fourth quarter of 2020.
Commenting on the latest developments, Falcon Real Estate Development said: "The submission of the application marks completion of the planning phase whilst commercialization is on-going. This is an exciting step forward for this landmark urban regeneration for the community and emphasises our ambition to create a very high quality, amenity-led environment for the residents of Waterford and the South East. The two projects of North Quays and Michael Street will make Waterford and the South East an unrivalled destination in South East Ireland. In addition, the future sustainable transportation hub combines to give public transport connectivity, direct access to the country's motorways and national road network, making it an outstanding location for both prime office, tourism and retail occupiers, in addition to new residents.
"We are acutely aware of the enormous public expectations for the North Quays and Michael Street projects. We are working closely with Waterford County Council, Kilkenny Council, Government Departments and State bodies, to ensure the delivery of the two developments and look forward to the imminent announcement of the Government funding model to deliver its Ireland 2040 project."
(CM/MH)
