Company to drive Limerick 2030 plan

Limerick City and County Council chief executive Conn Murray is finalising the setting up of a new company called ‘Innovate Limerick’ which will drive the Limerick 2030 economic plan for the city, the Irish Examiner has learned.

Launched a year ago, Limerick 2030 has a price tag of €250m. Significant funding has been approved by the European Central Bank.

Mr Murray has described the Limerick 2030 strategy as a “once-in-a-lifetime” plan to guide the economic, social, physical revival of the inner city.

It proposes the development of riverside plazas and shopping malls and involved wide public consultation.

It is believed that Mr Murray will brief the new Limerick City and County Council on the new company in coming weeks.

It will be the first major task to be put before the new unified council which meets for the first time today.

Key aims of the 2030 plan include:

* A world-class waterfront.

* A transformation of the city’s three main thoroughfares, O’Connell St, Catherine St and Henry St.

* A city centre square and plaza.

* A new University of Limerick campus in the city centre.

* Renewal of the Georgian quarter.

* And a redeveloped Colbert Station.

Innovate Limerick is described as “a special purpose vehicle” to move on the Limerick 2030 project.

One re-elected member of the new council, who asked not to be named, said last night: “It is great to see the 2030 plan moving on and we as elected councillors will be eager to play an important role in implementing and achieving its goals.

“The city centre will, through the Limerick 2030 initiative, lead the way, not alone in this country, but Europe, and we are glad that Conn Murray is moving so quickly with this new company.”

One of the first major developments will be the setting up of a University of Limerick campus in the city centre with residential accommodation for up to 500 students and college staff.

A number of sites have been short-listed and money to fund the development has been pledged by the ECB.