Developers have confirmed that work on the Waterford North Quays and Michael Street developments is likely to start before the end of the year.
Falcon Real Estate Development Ireland said the project aims to make Waterford the “go-to” destination for living, working, shopping and entertainment.
The company is currently working on the pre-development and planning phases with a view to starting construction in the last quarter of 2019.
Waterford North Quays, an eight-hectare real estate mixed-use scheme, will have 46,900 square metres of retail facilities, leisure, dining destinations and a Waterford Visitor Experience.
It will also include a 200-room four-star hotel and conference centre, 15,000 square metres of office space, and 300 riverside apartments.
Waterford North Quays will also be linked by bridge to Waterford city centre across the River Suir.
Falcon Real Estate said there will be easy parking, more than 35,000 square metres of open space and a riverside promenade which will be an integral part of the recently opened Waterford-Dungarvan Greenway.
The development will cost around €350m over three to five years and will create 2,300 full-time jobs during its development, with a further 4,500 indirect jobs.