August 15, 2020
Business News Property

Full steam ahead: Ferrybank’s €500m North Quays Development gets green light

The €500 million North Quays Development in Ferrybank, beside Waterford City has been granted full planning permission by the local council.

The decision was made by Waterford City and County Council this morning to push ahead with the plans which would see the landscape of Waterford City change, in turn creating close to 3,000 full-time jobs.

The group behind the project, Falcon Real Estate Development, said they are delighted with the decision, which they call a ‘milestone’ for Waterford City and the South East region.

In a statement just released, Rob Cass, a Director with Falcon Real Estate said: “In what is a milestone achievement for Waterford and the South East, Falcon Real Estate Development Ireland confirms that it has received Planning Permission from Waterford City and County Council for the Waterford North Quays Strategic Development Zone.

“Waterford North Quays is a project of Falcon Real Estate Development Ireland, which will be central to unlocking the potential of the communities of Waterford and the South East and delivering a better quality of life for all.

“In doing so, the project will regenerate and re-ignite the regional economy and create a better future for the next generation, in a sustainable manner, therefore fulfilling much of the Government ambitions in its new Programme for Government.

“We are delighted at the decision of Waterford City and County Council to grant full planning permission for the North Quays SDZ Project,” Mr Cass concluded.

The North Quays development covers a 7.8-hectare redundant city centre site and when built will include a 220-bedroom hotel; a mixed-use commercial building with multiple retail units; a food court; an eight-screen cinema; a visitor centre; a seven-storey office block; 298 apartments in five separate blocks; an energy building; and a riverside promenade.

The total combined estimated private and public investment in North Quays is over €500m of which €140 will come from the state. The North Quays development is expected to deliver nearly 3,000 full time jobs on the development itself by 2023, and a further 4,500 indirect jobs in the community.

 

 

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