Waterford City's skyline is set to change over the next few years with the construction on a multi-million quayside development.
Planning has been granted by Waterford City and County Council for the €500 million North Quays mixed-use development and construction work is targeted to start by Christmas, but that is subject to government funding being in place by the end of next month.
North Quays, a project of Falcon Real Estate Development Ireland for the Saudi Fawaz Alhokair Group, will transform more than 17 acres of a south-facing historic quayside waterfront.
The North Quays development, the culmination of a partnership with local authorities, state bodies and government departments will provide nearly 2,900 full-time jobs and a further 4,500 indirect jobs in the community.
The development of the site which has remained unused for over 20 years will benefit from over €139 million of public infrastructure funding, together with over €350 million of private investment, up to 2023.
“This is the culmination of four years of hard work with a significant effort made by many but particularly, the community and stakeholders of Waterford and the south-east itself,” said Rob Cass, Director, Falcon Real Estate Development Limited.
The largest mixed-use real estate development in the south-east will have a new train station, bus interchange and greenway hub.
According to Falcon, the project includes a seven-storey twin block comprising of 15,000 square metres of office space to accommodate 1,100 jobs and immediately adjacent to the city's train and bus stations.
Visitors will be able to enjoy quality waterfront restaurants and rooftop bars and cafes, with more than 30,000 square metres of green space and a riverside promenade for full access to the quayside.
Falcon says 50% of the apartments and 50% of the offices have already been sold and the hotel has been pre-sold.
“This is another important step towards to delivery of this critically important project for Waterford and the south-east and will be a major driver for the recovery from Covid-19,” said Michael Walsh, chief executive of Waterford City and County Council.
Construction work on the podium and piling aspect of the site is targeted to start by Christmas in tandem with the government infrastructure programme plan that has already begun on the roads, with a bridge and rail programme due to commence when government funding is confirmed.
The transport infrastructure for Waterford will be further enhanced by the Government’s recent announcement that it is investing to expand the runway at Waterford Airport which then sees connectivity between the airport to North Quays via bus terminal and then onwards to Dublin via the train station enabling greater public transport connectivity and usage.