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Waterford North Quays

By Waterford City & County Council

Harcourt Developments announced as North Quays SDZ Developer

  • €100.6m in Urban Regeneration and Development Fund investment and €70m in National Transport Authority funding to open up access to Strategic Development Zone
  • Harcourt Developments announced as North Quays SDZ Developer 

The Government has today given approval for €170.6m of investment in the Waterford North Quays Infrastructure Project.

Mayor of Waterford City and County, Cllr. John O’Leary said, “This investment represents another significant step in bringing the development of the North Quays to reality and delivering a strategic economic and social catalyst for Waterford and the region.

“The North Quays will not only be a game changer for Waterford’s future economic development, but the benefits will also permeate the region’s environmental, tourism and cultural sectors.”

This transformative project will create a sustainable modern mixed-use development that will harness and extend Waterford’s city centre, whilst reinstating the primacy of the river by creating a compact and vibrant core centred on the River Suir.

The funding announced will deliver the public infrastructure that will serve both the SDZ site and the public, including enhanced multi-modal access routes, an integrated transport hub and the sustainable transport bridge. The award of a contract for the construction of this public infrastructure project is imminent and works will be complete in 2025.

Waterford’s new state of the art Transport Hub will be unique in Ireland and will put Waterford at the forefront of integrated city centre transport infrastructure, with train, bus, taxi, cycling and car parking all in one location.  The North Quays will be connected to the heart of the city centre by a new sustainable transport bridge for pedestrians, bicycles, and a courtesy bus service.

The infrastructure will enable the commercial development on the SDZ Site, which will include offices, residential, retail, accommodation, and tourism investment in conference/exhibition facilities, as well as a 4-star hotel and visitor’s centre.

The proposed development also places a significant emphasis on improving the public realm through investment in new civic spaces, pedestrian facilities, and high-quality transport infrastructure which will connect Waterford and the South-East Greenways.

While elements of the project will have important transport and socio-economic benefits, the main objective is to leverage further investment in Waterford City and the region, by attracting indigenous and multinational companies and expanding the retail and tourism sectors.

The development of the North Quays as a modern multi-purpose development on the North site of the city will increase employment, provide much needed high quality residential units, enhance the retail offer and build on Waterford’s reputation as the Best Place to Live in Ireland.

Michael Walsh, Chief Executive, Waterford City and County Council also welcomed the announcement, “Today’s announcement is very much welcomed by Waterford City and County Council.  It underpins the Government’s commitment to one of the biggest investments ever in the southeast.

“The transformative effects of this investment are guaranteed to bring significant benefits to the region and help make Waterford a better place to live, work and invest in.”

A revised vision for the North Quays has been created by the newly appointed SDZ developer, Harcourt Developments.

Harcourt Developments is a Dublin-based property development and management company with a broad portfolio of award-winning projects.  The company develops residential and commercial projects and has developed and operated and tourism & leisure projects. It has had real estate interests in thirteen different countries.

An important part of Harcourt’s philosophy is to integrate cultural and artistic elements into their projects, and they take pride in creating beautiful buildings and attractive amenities. 

Their portfolio boasts Belfast’s Titanic Quarter, Northern Ireland’s most important regeneration project.  Located in the world-famous birthplace of Titanic and home to the Game of Thrones television production, Titanic Quarter is a vibrant, mixed-use scheme with over 1.8 million sq.ft. (140,000 sqm.) of commercial space, plus residential, retail, and hospitality and tourism spaces. Titanic Belfast is one of Ireland’s most popular tourist attractions.

Park West Plaza in Dublin is Ireland’s largest business and technology campus.  The Park extends to 230 acres accommodating a mix of office (103,000sqm.), industrial (205,000sqm.), retail (6,000 sqm.) leisure and residential accommodation.

Harcourt Developments Shopping Centres include Galway Shopping Centre, Donaghmede Shopping Centre in Dublin, Letterkenny Shopping Centre, Laois Shopping Centre, Limerick’s Parkway Shopping Centre and the Longwalk Shopping Centre in Dundalk.

Harcourt Developments currently have over 4,000 residential units at various stages in the planning and in development including Park West & Parklands at Citywest, Dublin and Bellingham Waterfront in Washington State.

Harcourt Developments is engaging with the Ireland Strategic Investment Fund (ISIF) on structuring an investment proposal for developing the site that would be capable, subject to due diligence and the necessary approvals, of attracting capital on a commercial basis. The Land Development Agency is engaged in respect of the residential element.  These investments are integral in achieving the objectives set out on the National Planning Framework, which calls for the rapid expansion of Waterford city to over 85,000 people.

The direct benefit to Waterford of the investment in the SDZ Site is anticipated to be in excess of €350m over the next six years, with 200 people employed during construction and between 1,200 and 1,500 people employed in phase one of the development from 2025.

The regeneration of the North Quays will also have a positive sustainable and environmental impact as it will enable development of a concentric city and allow access to zoned residential land closer to the city centre, reduce dependency on travel by private car and increase the modal shift of journeys in Waterford city towards walking and cycling, and optimise social cohesion with the creation of public realm corridors.

Following today’s funding announcement Waterford City and County Council’s elected members will convene to vote on the disposal of lands to Harcourt Developments to facilitate the development of the SDZ site and to CIE (Irish Rail) to enable the development of the access infrastructure pursuant to Section 183 of the Local Government Act, 2001 and Section 211 of the Planning & Development Act, 2000.

Waterford City and County Council will also conclude a contract with the successful tenderer for the construction of the Access Infrastructure.

-ENDS-

By Waterford City & County Council

Waterford City & County Council welcomes today’s Government approval of €170.6m investment in North Quays Project

€100.6m in Urban Regeneration and Development Fund investment and €70m in National Transport Authority funding to open up access to Strategic Development Zone 

The Government has today given approval for €170.6m of investment in the Waterford North Quays Infrastructure Project.

Mayor of Waterford City and County, Cllr. John O’Leary said, “This investment represents another significant step in bringing the development of the North Quays to reality and delivering a strategic economic and social catalyst for Waterford and the region.

“The North Quays will not only be a game changer for Waterford’s future economic development, but the benefits will also permeate the region’s environmental, tourism and cultural sectors.”

This transformative project will create a sustainable modern mixed-use development that will harness and extend Waterford’s city centre, whilst reinstating the primacy of the river by creating a compact and vibrant core centred on the River Suir.

The funding announced will deliver the public infrastructure that will serve both the SDZ site and the public, including enhanced multi-modal access routes, an integrated transport hub and the sustainable transport bridge.  The award of a contract for the construction of this public infrastructure project is imminent and works will be complete in 2025.

Waterford’s new state of the art Transport Hub will be unique in Ireland and will put Waterford at the forefront of integrated city centre transport infrastructure, with train, bus, taxi, cycling and car parking all in one location.  The North Quays will be connected to the heart of the city centre by a new sustainable transport bridge for pedestrians, bicycles, and a courtesy bus service.

The infrastructure will enable the commercial development on the SDZ Site, which will include offices, residential, retail, accommodation, and tourism investment in conference/exhibition facilities, as well as a 4-star hotel and visitor’s centre.

The proposed development also places a significant emphasis on improving the public realm through investment in new civic spaces, pedestrian facilities, and high-quality transport infrastructure which will connect Waterford and the South-East Greenways.

While elements of the project will have important transport and socio-economic benefits, the main objective is to leverage further investment in Waterford City and the region, by attracting indigenous and multinational companies and the retail and tourism sectors.

The development of the North Quays as a modern multi-purpose development on the North site of the city will increase employment, provide much needed high quality residential units, enhance the retail offer and build on Waterford’s reputation as the Best Place to Live in Ireland.

Michael Walsh, Chief Executive, Waterford City and County Council also welcomed the announcement, “Today’s announcement is very much welcomed by Waterford City and County Council.  It underpins the Government’s commitment to one of the biggest investments ever in the southeast.

“The transformative effects of this investment are guaranteed to bring significant benefits to the region and help make Waterford a better place to live, work and invest in.”

The direct benefit to Waterford of the investment in the SDZ Site is anticipated to be in excess of €350m over the next six years, with 200 people employed during construction and between 1,200 and 1,500 people employed in phase one of the development from 2025.

Sean McKeown, Acting Chief Executive of Kilkenny County Council said, “Kilkenny County Council is delighted to partner with Waterford City and County Council in the URDF funded regeneration of the North Quays.  This is a significant and strategic flagship project for the region,” while Cllr. Pat Fitzpatrick, Cathaoirleach, Kilkenny County Council also welcomed the investment in the southeast region.

The regeneration of the North Quays will also have a positive sustainable and environmental impact as it will enable development of a concentric city and allow access to zoned residential land closer to the city centre, reduce dependency on travel by private car and increase the modal shift of journeys in Waterford city towards walking and cycling, and optimise social cohesion with the creation of public realm corridors.

-ENDS-

By Waterford City & County Council

Work commencing on South Plaza enabling works

South Plaza Enabling Works

Waterford City and County Council is delighted to announce that work is commencing on the South Plaza enabling works contract, the first phase for the construction of the New Sustainable Transport Bridge that will link Meagher’s Quays on the South Quays to the North Quays Strategic Development Zone.

The new Sustainable Transport Bridge and associated South Plaza will also link with the existing Waterford Greenway via the new Bilberry extension and new Southeast Greenway from Waterford to New Ross both of which are currently under construction.  The Waterford City Marina will also be accessible from the South Plaza. The National Transport Authority, through their Active Travel Investments Grant is funding the new Sustainable Transport Bridge, South Plaza and the Bilberry Greenway extension.

The South Plaza will extend east and west of the Clock Tower with public realm enhancement and a focal point for local and visiting pedestrians and cyclists.  The plaza will be landscaped with street furniture, incorporating seating, trees, planters, lighting, grassed and paved areas and bicycle facilities.

This enabling works contract will comprise diversion of existing services and investigative works in advance of the main construction contract. Suir Plant Ltd has been appointed as contractor while Roughan O’Donovan Consulting Engineer is the lead consultant in charge of the works. Other North Quays project elements are also progressing well, at the end of May a separate enabling works contract for rock stabilisation to the north of Plunket Station is also due to commence.

By Waterford City & County Council

Waterford North Quays Infrastructure progesses to final procurement phase

Waterford City and County Council is delighted to announce that the main construction contract for the Waterford North Quays Infrastructure has progressed to final procurement stage.  All short listed / qualified applicants have been invited to proceed to stage 2 works tender, with tenders expected to be returned in Q1 2022 with construction planned to commence in Q4 2022. 

The main construction works comprises:

  • 1.3km of urban dual carriageway and local road upgrades in the Ferrybank area, together with significant junction improvements for pedestrians, cyclists and motorists;
  • a new train station, transport interchange and public realm works directly north of the  North Quays Strategic Development Zone (SDZ);
  • a 207m long pedestrian, cycle and public transport bridge across the River Suir, with an opening span to accommodate river traffic;
  • the creation of a plaza on the south side of the river to connect the new bridge to the existing city centre; and
  • provision of a new Greenway from Abbey Bridge that connects with the South East Greenway from New Ross that is currently under construction.

The contract will be funded through the Urban Regional Development Fund (URDF) and the National Transport Authority’s Sustainable Transport Measures Grant (STMG), whom collectively are providing over €110m in funding to Waterford City and County Council for the North Quays development.  Waterford City and County Council is continuing to work towards getting full and final approval from Government for the access infrastructure by June 2022.

In addition to the main contract works there are a number of enabling contracts associated with the North Quays development.  Works already complete include the clearance of vegetation from the cliff face at Plunkett station, the diversion of services and the demolition of several large properties in the Ferrybank area.

Two further enabling contracts, to relocate and upgrade a foul and surface water pumping station and to divert services on the South Quays for the bridge landing are at contract appointment stage.  The tender for the rock engineering works to stabilise the cliffs at the existing Plunkett station was recently advertised on etenders, and the final enabling contract to divert the existing drainage systems in the Ferrybank area to the new pumping station is at advanced design stage and will be advertised on the eTenders website in the coming weeks.

The last piece of infrastructure to progress is flood defence works to the west of Plunkett Station.  A planning application for these works was recently submitted to An Bord Pleanála, the plans and particulars are currently on public display in Waterford and Kilkenny Council offices and can also be viewed and downloaded online via the following link: http://waterfordcouncil.ie/projects/public-consultations/index.htm

If planning is confirmed it is anticipated the tender process for this element of the project will commence in Q1 2023. 

Michael Walsh, Chief Executive, Waterford City and County Council, commented on the announcement, “We are pleased that the construction contract has progressed to the final stage.  These key works to connect the North and South sides of Waterford City offers the opportunity to develop a sustainable and exemplary city centre and regional development, while facilitating the natural expansion of the City to the North side.”

“Warranted by its growing role as Ireland’s south eastern regional capital, Waterford is well placed to implement a zero carbon, socially inclusive and environmentally astute mixed use real estate development on the North Quays as a catalyst for future development.”

By Waterford City & County Council

Statement from Waterford City and County Council regarding Waterford North Quays development

Over recent months the Council extended the contract to May 15th, 2021 with Falcon Real Estate Development (Falcon) for the North Quays Development to allow the developer (Falcon) time to source alternative funding partners, given the obvious constraints imposed by the Covid 19 pandemic.

In correspondence received from Falcon Real Estate Development Ireland over the weekend, the developer has not demonstrated to any reasonable satisfaction that it has fulfilled its contractual conditions. As a consequence, this Council will not be extending the contract further in the coming week/s and will be in discussion with Falcon to conclude our relationship on an agreed basis.

The Council appreciates Falcon’s commitment to the project over the past number of years; and the considerable resources, time and effort committed to the project by the company.  

While this position is regrettable it is by no means the end of the project. The Council’s position remains the same: it is fully committed to the development of the North Quays and is confident that an exciting and transformative proposition can be brought to bear and it is our intention to immediately go back into the market-place to secure other development partners. We are satisfied that there will be market interest and that the North Quays project is now in a very different place to where it was a few years ago:

  • All land ownership and title issues are secured and in the ownership of Waterford Council.
  • All site environmental issues have been resolved.
  • Benefit of a National SDZ designation which facilitates fast-track planning permission.
  • Secure government funding under the URDF for North Quays and City Centre regeneration.

This Council has been working in the background to undertake a fundamental reappraisal of the North Quays Scheme and will be proposing to engage with the marketplace on a revised proposal in the coming weeks. To this end it is envisaged that there will be a Request for Tender issued next week for a commercial property adviser(s) to assist us in reengaging with the marketplace.

It is to be regretted that there is a delay in the project at this time but this may in some respects be timely. A revised planning permission will only take three months to complete once ready given the Strategic Development Zone designation and there is a reality that the broader development market is in serious trauma post-Covid and it is only now that signs of re-emergence are beginning. It would be our clear objective to be at market by September where we envisage the broader development market growing significantly again in line with the reopening of society and we would now be targeting development commencement in Quarter 2, 2022.

There is a strong need for this project under Project Ireland 2040 as Waterford continues to grow and the South East has the expertise required to attract major international investment and jobs. The recent launch of Waterford 2040 demonstrates the city’s enormous potential and we intend the North Quays to be a central element in the City’s future.

Ends.

By Waterford City & County Council

Statement by Waterford Council on North Quays

Over recent months the Council extended the contract to May 15th, 2021 with Falcon Real Estate Development Ireland (Falcon) for the North Quays, to allow the developer (Falcon) time to put in place the necessary funding for the project, given the obvious constraints imposed by the Covid-19 pandemic.

It is our view that it is unlikely that Falcon will be in a position to satisfy the contract preconditions in respect of funding, albeit we are informed that funding proposals will be submitted later today or tomorrow. As previously advised at our Council meetings, the rescission date under contract is Saturday, May 15th.

In the circumstances we would propose not to comment further until Monday next.

ENDS

By Waterford City & County Council

Waterford confirms allocation of €110m, securing North Quays SDZ key developments

Waterford confirms allocation of €80,600,000 Urban Regeneration Development Funding and €30,000,000 National Transport Authority funding which secures North Quays Strategic Development Zone key infrastructural developments

Waterford City and County Council welcomes the announcement of €80,600,000 funding from the Urban Regeneration Development Fund by the Department of Housing, Local Government and Heritage and €30,000,000 from the National Transport Authority for infrastructural works for the development of the North Quays Strategic Development Zone site. Today’s funding announcement is a significant step towards completion of the commercialisation of the site by Falcon Real Estate Development Ireland and enables the move to detailed design and construction phase.

The funding announced today will enable the completion of the three key infrastructural elements which Waterford City and County Council are progressing as well as associated infrastructural works that are being progressed by Kilkenny County Council   Since 2018 funding provided by both the Urban Regeneration Development Fund and the National Transport Authority has facilitated the project development.     The Sustainable Transport Bridge, City Centre Access Infrastructure and the Integrated Transport Hub are complete to detailed design and progressing to tender stage to appoint a main construction contract.

The Mayor of the City and County of Waterford, Cllr. Damien Geoghegan on confirming the funding announcement from National Government said “Today is an historic day for Waterford and the south east region. This funding announcement solidifies our commitment to the North Quays Strategic Development Zone which is the single largest enabler of regional economic growth.  Today represents an opportunity for Waterford City to realise its role as the largest urban centre in Ireland’s largest region. I am honoured to have worked with my colleagues in local and national government to secure this essential funding.”

The opportunity for Waterford to meet the targets as set out in Project Ireland 2040 is underpinned by today’s announcement. The Urban Regeneration Development Fund was established primarily to support the compact growth and sustainable development of Ireland’s cities and large urban areas.  Waterford’s role as an important driver of national growth and a regional city of scale is identified in the National Planning Framework and confirmed in the Regional Spatial and Economic Strategy for the Southern Region and recently adopted Waterford City Metropolitan Area Strategic Plan 2020.

Chief Executive of Waterford City and County Council, Michael Walsh said, “We have worked in partnership with Kilkenny County Council, Irish Rail and Falcon Real Estate Development to bring this project to fruition and today is a really strong commitment by national government in Waterford‘s future as the economic capital of the south east. Notwithstanding the impact of COVID on our economy, Waterford is well placed to show resilience and recover with the delivery of 1,500 new full time jobs directly related to the construction phase of the project alone. In terms of the long term Waterford 2040 vision, we will work to continue to invest in regeneration in key locations which will reshape the region and drive economic growth.”

The North Quays project is the largest commercial development in Waterford and currently the largest urban regeneration project in the Country.  The combined private and public investment in the project is estimated at over €500m, with the private development delivering nearly 2,300 full time jobs by 2023  and with the creation of a further 4,500 indirect jobs in the community.   A 7% growth rate to Waterford’s economy is anticipated as well as a 1.5 % growth to the wider South East economy.

Visitor numbers to the region are expected to increase with the creation of a flagship visitor’s centre in the heart of the North Quays that can cater for one million visitors.  The provision of high quality office space and complimentary facilities will increase the attractiveness of the region for foreign investment.  This will, in turn, leverage increased economic activity for local business and the local economy.

The North Quays project will act as a catalyst for the development of commercial and residential land with direct sustainable access via the greenway to the City Centre and intercity locations allowing for active travel and associated health benefits, journey time saving, modal shift to more sustainable transport and reduced emissions.  This plan led, holistic and sustainable approach to development is in line with current Government policies and the National Planning Framework.  It will ensure the South act as a key enabler into the future for Waterford City and the wider region.

ENDS

Note to the editor
Project Ireland 2040

Project Ireland 2040 is the overarching, long-term strategy, setting out this Government’s infrastructure priorities for future growth and development. The strategy reforms how public investment is planned and delivered, explicitly aligning Ireland’s spatial planning with a capital investment plan, in order to provide the right infrastructure in the right places to cater to our growing population.

By 2040, there will be an extra one million people living in our country. Project Ireland 2040 aims to accommodate this growth in a balanced and sustainable way and put in place the investment required to enable prosperity. It is promoting compact growth in our regions throughout the country, ensuring that people are living close to the infrastructure and services that they need. Project Ireland 2040 is particularly focused on promoting the growth of our regional cities and urban centres outside of Dublin, in order to counteract the unrestrained growth of the capital and spread the effects of economic strength more evenly throughout Ireland.

By Waterford City & County Council

Update on the North Quays project – October 2020

Waterford City and County Council is currently carrying out enabling works for the North Quays project in advance of the main contract works that comprise a new multi-modal Transport Hub, Sustainable Transport Bridge and Access Infrastructure works on Dock Road and Abbey Road.

The enabling works for the North Quays is made up of two contracts. MJS Civil Engineering is currently completing the utility diversion contract while MCB Civils Ltd has recently commenced the demolition and site clearance contract. Rapid and visible progress is now evident on Abbey Road with almost complete demolition of Abbey Road Business Park, adjacent residential property and the former Dunlop site on Ferry Lane.

In the coming weeks works will continue with the demolition of a number of properties on Dock Road. It is anticipated that both enabling contracts will be complete by February 2021, in advance of the main contract works that will be on site mid 2021.

By Waterford City & County Council

Falcon Real Estate Development welcomes granting of Planning Permission for North Quays SDZ

Falcon Real Estate Development welcomes granting of Planning
Permission for North Quays Strategic Development Zone from
Waterford City & County Council

Waterford, Ireland 10th July, 2020

In what is a milestone achievement for Waterford & the South East, Falcon Real Estate
Development Ireland confirms that it has received Planning Permission from Waterford City & County Council for the Waterford North Quays Strategic Development Zone.
Waterford North Quays is a Project of Falcon Real Estate Development Ireland, which will be central to unlocking the potential of the communities of Waterford and the South East and delivering a better quality of life for all. In doing so, the project will regenerate and re-ignite the regional economy and create a better future for the next generation, in a sustainable manner, therefore fulfilling much of the Government ambitions in it’s new Programme for Government.

“We are delighted at the decision of Waterford City and County Council to grant full planning permission for the North Quays SDZ Project. This is the culmination of four years of hard work with a significant effort made by many but particularly, the community & stakeholders of Waterford and the South East itself.” said Rob Cass, Director, Falcon Real Estate Development Limited.  North Quays is over eight hectares of urban regeneration on a stunning, south-facing 1km historic quayside waterfront in the centre of Waterford City. The site consists of a sustainable transport hub, will be the largest mixed-use real estate development in the South East of Ireland’s €18bn economy for the 603,000 people living in the South East’s 60-minute catchment. The exciting project will see a new city-centre skyline emerge for Waterford city centre.

Rob continued: “The North Quays redefines a new & exciting vision for the City, supporting and enhances a vibrant public realm and kicks off a very exciting decade ahead for Waterford & the South East region as the delivery of North Quays sees the potential of the city-region start to be unlocked, as a destination for people across Ireland and beyond to come and experience.

We hope the community will take great pride in turning these plans into reality as we enter
the next phase and we’ll be undertaking significant community engagement events in the
forthcoming weeks and months.”

The total combined estimated private & public investment in North Quays is over €500m,
with the North Quays development delivering nearly 2,900 full time jobs on the
development itself by 2023, primarily in the offices aspect and secondarily in the services
sectors – and a further 4,500 indirect jobs in the community. The development is the
culmination of partnership with local authorities, state bodies and government departments that see North Quays act as a catalyst to unlocking overdue funding for Waterford and the South East.

The North Quays development will benefit from over € 139m of public infrastructure
funding is unlocked by over 350m of private investment up to 2023 which sees over 272m
returned to the exchequer in the build phase, and upon opening, will deliver a net annual
benefit to taxpayers of over €107million a year; from 2018 to 2030 the taxpayers benefit will amount to almost €1.25bn. This equates to €8 returned per euro of taxpayer fund outlay, acting as a model of how sustainable regenerations can unlock both exchequer and
importantly, how public & private sectors combine to unlock significant social & economic
benefits for the community.

The economic impact of the build phase is over 130m each year in the construction phase
from 2020 to 2023, then 277m a year, once the development opens in 2023, adding 7%
growth rate to Waterford’s economy & 1.5% to the wider South East’s economic growth
rate, plus reducing unemployment in the county by 22% and in the region by 12.5%.
“In getting to this vital milestone, we would like to thank the community for their
submissions and inputs to plans, our Development Team, Commercial and Funding Partners, Local Authorities, state bodies and government departments for their extremely hard work and collaboration in making one of the most important projects in Waterford and South East’s history” Rob concluded.

Project
Subject to the confirmation of the DHPLG (or other relevant Agency) for the funding of the Infrastructure happening before the end of August, Falcon Real Estate Development is
purchasing the whole of the North Quays site from Waterford City and County Council, and then immediately commence both further commercialisation and in parallel, detailed design & contract award to general contractors. Construction work on the podium & piling aspect of the site itself is targeted to start by Christmas 2020 in tandem with the Government infrastructure programme plan that has already begun on the roads, with the bridge & rail programme due to commence upon funding confirmation from the government.

Waterford North Quays, an eight-hectare real estate mixed use scheme, was conferred SDZ (Strategic Development Zone) designation by the Government in 2016. The North Quays development will provide over 2,800 new jobs on site by 2023 and over 4,500 indirectly in the Waterford City Region.

Highlights
The project description is a mixed-use development, to include:
§ Seven storey twin block comprising 15,000 square metres of prime office space to
accommodate 1,100 jobs, immediately adjacent to the city’s train & bus station, at
prime rents 50% better value than Dublin.
§ Five residential buildings ranging in height from 7 to 17 storeys, with 298 riverside
apartments to accommodate 500 to 600 residents, with value of apartments 50%
better value than Dublin prime apartments.
§ A fifteen storey 200-room 4-star hotel and conference centre.
§ 30,000 m2 of high quality open & green community public space designed to attract
visitors from Waterford, the surrounding areas and international tourists & unlock
access to the North Quays 24/7.
§ The location of one of Ireland’s most modern and multi-nodal sustainable transport
hubs, acting as new model for Ireland with a new train station, bus interchange &
greenway hub for the 100km South East Greenway connecting nearby communities
via dedicated bike routes, plus connecting to the South Quays & City Centre via a
Sustainable Transport Bridge.
§ Mixed use commercial building destination comprising tourism, retail, food &
beverage marketplace, cinema & crèche offering destination & digital retail for the
region.
§ Visitors will be able to enjoy quality waterfront restaurants and rooftop bars & cafés
with over 30,000 square metres of green open space and a riverside promenade for
full access to the quayside with unprecedented in Ireland quality of finishes.
§ The development is built to BREEAM Gold standard and is 100% renewable energy,
which in turn has been designed to be owned by Community Energy Co-op’s.
§ As a sign of confidence in the Development from Commercial Partners, the project
has been commercially progressed that sees 50% of the apartments sold, 50% of the
offices sold and the Hotel pre-sold.

Sustainable Transport Hub unlocks an even better Quality of Life in Waterford & South
East
Waterford North Quays is set to become home to one of Ireland’s most modern sustainable transport hubs, connecting the site locally and nationally with a new train station, a new bus interchange, the South East’s 100km Greenway, pedestrian and electric bus with a sustainable link-bridge to Waterford city centre across the River Suir, with the ambition to have Dublin-Waterford Train direct in 60 minutes in the foreseeable future, unlocking commuter potential and enable far more affordable living for existing talent in the city. The new sustainable transport hub is expected to cater for over 4 million passengers or visitors annually across the bus, train & Greenway, 13 million cars & 2,500 bike storage spaces. 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 & usage.

Economic Benefit
The North Quays development marks a major economic boost for Waterford and the South East Region of Ireland. The estimated investment is €500 million phased over three to five years. 2,800 full time roles will be created on-site when the development of the new district opens, with an additional 4,500 indirect jobs in the catchment, which in turn creates both demand for c 2,000 homes in the catchment and leads to additional consumer spend in the city & region of 130m p.a., which increases the consumer economic rate by c3.3% a year.

The North Quays investment is expected to act as catalyst for the South East given the
current undersupply opportunity of 6bn today, with a pipeline opportunity of 15.6bn looking further out. In collaboration with the Councils, we look forward to promoting the South East Economy, which looks set to grow from 18bn to 53bn by 2040 (CAGR 6% p.a) and see it one of the fastest growing economies in the EU, alongside other pipeline developments in Kilkenny’s Abbey Quarter and Wexford’s Trinity Wharf, which all combine indicate the significant growth potential in the South East.

The planned completed integration of the scheme with the existing urban centre will
confirm Waterford as the Gateway City of the South East Region to connect to Dublin faster & more sustainably via the train station enabling talent to “live in Waterford, work from home and commute to Dublin” on far more affordable levels saving 50% on rent &
mortgages or some 11-12k a year for young talent, but also saving businesses some 50% on
offices. North Quays also acts as a catalyst to attract in further private investment given the current undersupply opportunity by increasing regional and national visitation and tourism which will serve to reverse regional economic leakage in retail of over €700m a year outside the region, tourism opportunity of over €400m a year and the resultant talent/jobs being delivered in these sectors, alongside the population growth of 50% under Ireland 2040.

Under Ireland 2040, by 2040, the North Quays 60-minute catchment rises to over 804,000
people, sees private sector investment opportunities of housing demand of €14.5bn,
Consumer spend growth of €3.2bn, Office demand of €900m and tourism growth of €400m alongside climate action/green deal pipeline of €9bn by 2040, therefore North Quays €500m is only a small percentage of a very exciting pipeline that the South East community is set to benefit from, and one we are very excited to be playing a key part in making a reality.

(Ends)

Issued for Falcon Real Estate Development Limited by Heneghan
For Information:
Rob Cass, Director, Falcon Real Estate Development Ireland- Rob.cass@falconmalls.com /
(087 768 8209)
Nigel Heneghan, Heneghan – nigel@heneghan.ie / (086 258 7206)
Fiona Peppard, Heneghan – Fiona@heneghan.ie / (087)6354423

Further details can be found @ www.waterfordnorthquays.ie with the video found here

By Waterford City & County Council

Final decision on Waterford North Quays city centre expansion expected this Spring

Falcon Real Estate Development Ireland Limited lodged a planning application with Waterford City and County Council just before Christmas 2019 which would see the North Quays become the single largest private sector mixed-use commercial and residential development that the city has ever seen.

Development Proposals

The proposed development would cover a 7.8 hectare redundant city centre site and would include:

  • a 220 bedroom hotel;
  • a mixed use commercial building with multiple retail units,
  • a food court,
  • an eight screen cinema
  • a visitor centre;
  • a seven storey office block;
  • 298 apartments in five separate blocks;
  • an energy building
  • a riverside promenade, public park, public plazas with linkages for pedestrians and cyclists to existing and future ‘Greenways’ and the proposed Sustainable Transport Bridge which will link with the South Quays at the Clock Tower.

As would be expected with a proposal on this scale, there are a number of points of detail that still need to be worked out and the Council recently issued a request for “Further Information” to the applicant to allow these matters to be fully clarified and addressed as part of the overall application process.

Once this additional information is submitted, the Council will immediately begin assessing same with a view to issuing a decision on the planning application as soon as possible thereafter.

For some time now, the North Quays has been acknowledged as a key strategic site for economic and social development at national and regional level, and the site was designated as a Strategic Development Zone (SDZ) by the Government in 2016, with the Council adopting a special SDZ Planning Scheme for the area in 2018.

The renewal of the North Quays is essential to the sustainable expansion of the city core, and will be served by an integrated multi-modal transport hub.  This will be centered around a relocated railway station and new bridges, greatly improving access to the city centre. The North Quays have the potential to become a high profile destination for living, working, shopping and entertainment that will boost Waterford’s profile and provide a new urban district to support integration of the Waterford Metropolitan Area both north and south of the river.

Funding Announcement

Continuing government support for this major initiative was most recently demonstrated by the announcement made last week that funding of €12.6 million has been awarded to fund infrastructure for the North Quays, including the Dock Road and Abbey Road access works.  The Sustainable Transport Bridge was also included in this allocation of funding.

The Mayor of the City and County of Waterford, Cllr. John Pratt, welcomed the funding announcement stating, “The funding represents a confidence in Waterford’s ability to realise our ambitious programme of developments, which when realised will transform our city into a major urban centre of consequence and a driver for regional development”.

By Waterford City & County Council

Waterford welcomes funding of €15,175,000 under NTAs Project Ireland 2040

Waterford City and County Council is delighted to announce that funding of €15,175,000 has been awarded to Waterford City to fund expenditure in 2020 under the National Transport Authority’s (NTA’s) Sustainable Transport Measures Grant (STMG). This includes €12,600,000 funding for the Waterford North Quays project including the Dock Road and Abbey Road Access works and the Sustainable Transport Bridge.

An additional €1,550,000 funding has been made available for the Bilberry to City Centre Greenway extension and a further €1,025,000 towards City Centre Sustainable Transport initiatives.

The Mayor of the City and County of Waterford Cllr. John Pratt welcomes the funding announcement stating, “The funding represents a confidence in Waterford’s ability to realise our ambitious programme of developments which when realised will transform our City into a major urban centre of consequence and a driver for regional development”.

NTA funding for the North Quays will focus on the Sustainable Transport Bridge and the proposed Access Infrastructure. The project will see the construction of a Sustainable Transport Bridge, linking the Clock Tower to the North Quays Strategic Development Zone (SDZ) site for pedestrians and cyclist, and linked to the existing Greenway via the proposed Bilberry extension. The bridge will also accommodate a shuttle bus. 

The tender process has already commenced for the Sustainable Transport Bridge and Access Infrastructure works. The funding provided for 2020 will enable the project to progress to the construction stage and it is envisaged that a contractor will be on site before the end of the year. 

The 2020 funding complements previously STMG funded transportation projects in Waterford, this includes works at Hennessey’s Road and Browns Lane which is due to reopen shortly, the WIT to City Centre route, Bilberry to City Centre improvement works as well as planning and design works for transportation proposals at the North Quays. The funding of these critical infrastructural developments will support a modal shift towards walking, cycling and public transport and will act as a catalyst for the sustainable development of the City, promoting further connectivity both north and south of the River. 

By Waterford City & County Council

Statement: Waterford North Quays Planning Application

Statement: Waterford North Quays Planning Application

A planning application was lodged yesterday, the 17th of December, for development of lands on the 7.8 hectare site known as Waterford North Quays, Dock Road, Ferrybank, Waterford. The applicant is Falcon Real Estate Development Ireland Limited. The application relates to development in Waterford North Quays Strategic Development Zone (SDZ) and is subject to Waterford North Quays Planning Scheme 2018.

The proposed development comprises a mixed use development of 129,302sqm gross floor area. A ten year permission has been applied for. The application is currently subject to a validation process, with updates being published to the Council’s website www.waterfordcouncil.ie

The planning application is available for inspection at our offices in the Menapia Building, the Mall, Waterford and is also displayed online, with public submissions being  invited up to the 29th of January 2020.

Planning Department
Waterford City and County Council
18th December 2019

By Waterford City & County Council

CE Michael Walsh welcomes Falcon statement on North Quays Planning submission

Waterford Chief Executive, Michael Walsh welcomes today’s confirmation by Falcon Real Estate Development that the application for planning permission will be lodged with Waterford City and County Council by the end of November 2019.

The statement was issued today 31.10.2019 by Falcon Real Estate Development and can be read in full below.

By Waterford City & County Council

Falcon Real Estate confirms North Quays planning submission date

Falcon Real Estate confirms end of November 2019 submission date for North Quays development

  • Waterford North Quays is a project of Falcon Real Estate Development Ireland
  • With over eight hectares, it will be the largest mixed use real estate development in the South East of Ireland
  • A €350m total estimated investment, delivering 2,300 full time jobs by 2022 – and 4,500 indirect jobs

Waterford, 31st October 2019: Falcon Real Estate Development Ireland confirms that, by the end of November 2019, the application for Planning Permission to Waterford City & County Council for the North Quays development will be lodged.  Subject to the granting of planning permission, work on the project is likely to start by the fourth quarter of 2020. Waterford North Quays, an eight-hectare real estate mixed use scheme, was conferred SDZ (Strategic Development Zone) designation by the Government in 2016.

The North Quay development marks a major economic boost for Waterford and the South East Region of Ireland. The total estimated investment is estimated to be €350 million in the development, phased over three to five years. 2,300 full time roles will be created during the development of the new district, with an additional 4,500 indirect jobs.

The planned completed integration of the scheme with the existing urban centre of the City will confirm Waterford as the Gateway City of the South East Region, increasing regional and national visitation, tourism and will serve to reverse regional economic leakage. Combined with the foretasted 2040 population growth of 181,000 people for the South East, the retail market size in the South East is expected to grow from €3.49 billion in 2015 to €6.30 billion in 2025.

Project highlights

The project description is a mixed use development, to include:

  • A thirteen storey 200-room 4-star hotel and conference centre;
  • a mixed use commercial building comprising tourism, retail, food & beverage and leisure;
  • a seven-storey twin block comprising 12,000 square metres of prime office space;
  • five residential buildings, with 300 riverside apartments to accommodate 500 to 600 residents delivered in a contemporaneous and phased approach, with extensive open public spaces, all designed to attract visitors from Waterford, surrounding areas and international tourists;
  • and the location of one of Ireland’s most modern and multi-use transport hubs.

(Ends)

Media contacts

Nigel Heneghan + 353 86 2587206 – nigel@heneghan.ie
Fiona Peppard + 353 (0) 1 660 7395 – fiona@heneghan.ie

Note to editors

About Falcon Real Estate Development
Falcon Real Estate Development is an independent company. It aims at developing a significant portfolio of Real Estate projects. The company strategy is to source, develop and operate a quality range of assets in European Growth Markets to reflect the strength and innovation delivered in the home markets of the company’s owners.

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