Plans for a new urban redevelopment quarter with the potential to host thousands of apartments close to Limerick City’s rail and bus transport hub take a significant step forward today, gearing the city towards Framework 2040 planned regional growth.
CIÉ, the Land Development Agency, the HSE, and Limerick City and County Council are stakeholders in the plan for the 50-hectare land bank by Colbert Station, which was first sketched out last October.
The stakeholders are today due to sign the memorandum of understanding for the strategic city centre regeneration masterplan for the brownfield site, to include living, working, and leisure spaces.
The site is of a sufficiently significant scale to accommodate up to 2,000 apartments over time, in a phased scheme worth up to €2bn.
It is anticipated by the parties backing it that location, at Limerick’s main regional and intercity transport hub, will allow for a largely car-free mixed use and transit-oriented development, key to fostering cohesion and sustainable living in this new local community.
The Land Development Agency (LDA), set up by the Government in 2018, will provide funding for preparatory work.
A design review, to be led by David Browne, the president of the Royal Institute of the Architects of Ireland, will start within weeks. Plans for significant public input and consultation on the project will also commence shortly.
Today’s memorandum of understanding will “outline the key steps and actions of the signatories for the creation of a new urban neighbourhood in the heart of Limerick City, and a comprehensive implementation and delivery strategy,” according to the LDA.
It will be a precursor to a statutory best-practice masterplan, and the design process will establish a panel of experienced practitioners of architecture, urban planning, and development.
The LDA is charged with opening up State-owned land for development, and is active on nine sites, capable of delivering up to 4,000 homes.
Separately, social network giant Linkedin has signed an office deal in Dublin which could allow it to add up to 3,000 more jobs on top of the 2,000 people it is already due to employ by the middle of this year.
Linkedin, which is owned by Microsoft, and has 600m business/professional subscribers worldwide, finalised a deal to take on an extra 430,000 sq ft (40,000 sq m) of offices in Dublin 2. It is a city development called One Wilton Park which is the focus of a €350m investment by Irish real estate leaders IPUT.