€400m project aims to create 3,000 jobs
Plans for the City Quay project on the site of the Ard Rí Hotel include a new hotel and upwards of 400,000 square feet (37,161 sq m) of retail, commercial, residential, and cultural space. Planning applications are due to be lodged today with Waterford City Council and Kilkenny County Council and, if successful, the development is expected to create a further 500 jobs during construction.
City Quay developer Tom Coughlan of the Cork-based TRM Consortium pledged the new 208-bed hotel will be completed by the start of the Tall Ships Race in Waterford in 2011 — provided construction gets underway by the start of 2009. Also planned for the site are an events centre and several open air spaces.
Environmentally-friendly features have also been incorporated into the plan.
Speaking at yesterday’s launch, Mr Coughlan said that Waterford offers the best potential in Ireland at the moment. “As Ireland enters more challenging economic times, specifically in the construction industry, only projects with excellent potential will succeed,” he said. “With the support we have received from the City of Waterford for this project, as well as the strength of the local Waterford economy, we are confident that City Quay will help Waterford continue its development as one of Ireland’s leading regional cities.”
Arts, Sport and Tourism Minister Martin Cullen said the planned development was a vote of confidence in Waterford and its people.
“Waterford has many strengths including a strategic location, a compact city, proximity to a major port and an outstanding estuarine setting,” said the minister.
“The City Quay development, when completed, will greatly add to the economic, social and cultural strengths of Waterford city.”
Waterford Chamber president Colin McGookin said the project was designed by “some of the leading urban planners and architects in Europe” and focuses on restoration of the environment of the site, the creation of mixed-use areas, the integration of arts and culture and other facets of a sustainable community.
“This exciting and ambitious development of a key landmark site further enhances Waterford both as a place to work and a place to live.”
According to the developers, the philosophy of the City Quay development is to create “a truly sustainable development which is socially just, environmentally responsible and economically viable” for Waterford.
“This development has been designed to create a good life for those who live there without compromising the ability of future generations to do the same. There will be a conscious drive to enable local businesses and entrepreneurs establish themselves in the development, helping the growth of indigenous business and making City Quay an integral part of Waterford.”
