A blueprint to bring Cork back to its former glory

As Christmas looms, all of us will have to think about ideas and ambitions for 2015. Cities, including Cork, should do the same.

If anything epitomises a sense that economic stability has returned to Cork, it is the site being developed next to City Hall.

On Saturday, walking past it, I imagined the 600 employees who will work in that building when complete. Alone, that project has the potential to turbo-boost business and social life in the city centre, because it will stimulate activity in shops, restaurants, and bars as the salaries from hundreds of workers recycle through the local economy.

As that building starts to rise early next year, we should be looking for other initiatives that propel Cork’s economy forward through tangible job-creating projects.

Here are five big ideas:

1. The Capitol Cinema complex: The ugliest piece of real estate Cork currently has, the Grand Parade eyesore is a true symbol of the rotten state our economy was in post-2008.

Taking down those grubby hoardings and starting a live business project should be a key priority for the new year. That complex is capable of hosting agri-food- centred activity which brings together private enterprise, UCC, and the State’s institutions to develop a thriving hub near to the iconic Old English Market.

2. A convention centre: The Convention Centre in Dublin is a proven catalyst for large-scale and frequent events that fill taxis, hotels, and a bunch of other outlets across the city. Cork needs a stand-out convention centre that carries out the same task in the city.

The reasons for the delay go way beyond my pay grade but the absence of such a centre is holding back the city’s economic growth.

3. Cork Airport’s rejuvenation: The much-debated flaccid passenger performance at Cork airport has to be nailed next year. A booming airport would change its relationship with the surrounding economy, and the longer we continue with the current status the longer it takes to drive on the region.

An innovative deal that can long-date the Terminal- linked debt in exchange for a growing route network has to be negotiated if the airport is to fulfil its potential as a site proximate to the city centre.

4. The Cork Harbour tour: Turning Cork Harbour into a destination of value to history buff tourists is a project that can resonate around the villages that pepper the area. Taking the best of the Wild Atlantic Way and adding to it could create a high-quality experience that brings together travel, hospitality, and tourism assets to target a global market opportunity.

5. A residential city centre: Bringing residents back to the centre of Cork City would be a positive way of improving the life and culture of the area.

If you walk along the South Mall, Grand Parade, and Patrick St, it is notable how many buildings above the ground floors are either empty or used for storage. How hard would it be to introduce a council-inspired policy that encouraged the development of residential space to induce greater numbers of people to live in the heart of the city?

Undoubtedly, converting these ideas into something tangible requires a bit of head-banging and a few uncomfortable conversations, but if you want an omelette, you’d best get ready to break some eggs. Our thoughtful leaders should enjoy Christmas and get ready for work from January 1.

Joe Gill is director of corporate broking with Goodbody Stockbrokers. His views are personal.