UCC to get €25m of third level education building fund

The Government is set to announce a €100m investment in five third-level education building projects today — with UCC set to get a significant share for its new business school in the heart of Cork City.]

Education Minister Joe McHugh and the Minister of State for Higher Education, Mary Mitchell O’Connor, have just announced details this morning of the projects to be funded under the €96.6m scheme through Project Ireland 2040 to help support up to 14,000 new places for students in higher education institutions. They are:

• €6.6m for IT Sligo’s €18.6m central campus extension project - a four storey extension to create 2,400-student places;

• €15m for NUI Galway’s €39m Learning Commons project - a major regeneration of its existing library building;

• €25m for Maynooth University’s €57m Technology Society and Innovation Building - a new 10,000 sq m building, as well as refurbishment and upgrade of existing space to increase student places by 3,000;

• €25m for UCD’s €190m Future Campus project - the creation of some 22,500 sq m of teaching, learning, research and engagement space for 3,300 student places;

- and €25m for UCC’s €106m Cork University Business School (CUBS) building for 4,000 students and 200 staff.

UCC’s proposed CUBS building is earmarked for the Trinity Quarter site on South Terrace.

The building, which will house 4,000-students and up to 200 staff, is expected to provide a significant boost to the city centre.

Tánaiste Simon Coveney described it as an ambitious and landmark project for the city and region.

“UCC is raising funds on its own but needs significant state backing,” he said.

“This €25m is a huge contribution and is another example of Project Ireland 2040 in action in Cork.

“This will be a major boost for the city centre with up to 4,000 students breathing new life into the area.

“Cork already has 150 global companies and eight of the world’s top 10 Pharma companies calling it home.

“This investment will ensure UCC continues to supply world-class graduates who will come from near and far to study here.”

Senator Jerry Buttimer said the project will allow for further growth of the University and enhance the student experience. “This project is a wonderful opportunity to regenerate and revitalise a section of the city,” he said.

The CUBS project was announced in April after UCC confirmed that it had acquired the former Brooks Haughton’s builders’ yard site following a deal with Dairygold, estimated at just over €17m.

The 1.46-acre site already has full planning permission for a 220,000 sq ft office development in a five-storey building.

UCC is now expected to proceed to seek permission for a change of use from offices to educational use.

Its current CUBS has 3,500 students across disciplines such as finance, economics, accounting, BIS, marketing and food business. About 700 are postgraduates, and 400 are international students from non-EU countries.

Between 2017 and 2030, the number of full-time students enrolled in higher education in Ireland is projected to increase by more than 38,000 to more than 222,000.