JP to fund city’s clean-up

BILLIONAIRE gambler JP McManus is funding a clean-up of a huge boarded-up area of Limerick city which has fallen victim to the economic collapse.

More than 40 businesses lie idle in the Patrick Street area where it was planned to build the €300 million Opera Centre retail area.

With funds from the JP McManus charitable foundation, a clean-up of the area will take place.

A major paint job will be carried out, along with repairs to lower sections of the buildings. The amount being donated by the foundation is not being disclosed.

The foundation’s director, Gerry Boland, said they had taken the decision after talks with the developers of the site. Work is to commence immediately.

Mr Boland said: “We plan to tidy it up and make it look as well as it can, even though it’s not a permanent solution. We just want to make Limerick look well.”

The huge site was recently valued at €12.5m, having been valued at more than €92m three years ago.

Recently published developer accounts declare there was no funding in place to complete the project.

“Market conditions at present suggest the development will not be realised in the immediate future.”