The Chief Executive of local authority says funding for Waterford's North Quays is the first step towards a transformed Waterford.
The Minister for Housing, Local Government and Heritage, Darragh O'Brien TD has today announced the approval of €80.6m in Urban Regeneration and Development Fund (URDF) support for the project.
A total package of €110.6m will go towards the regeneration project with €30 million having been committed by the Department of Transport, through the National Transport Authority.
Today Minster O’Brien announced significant additional funding for the Waterford North Quays project.
€80.6 million will be allocated from the Urban Regeneration and Development Fund.
More here ▶️ https://t.co/w7ZPmAM0CF pic.twitter.com/9Dj1pNCHZt— Department of Housing, Local Government & Heritage (@DeptHousingIRL) November 10, 2020
It 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. The Sustainable Transport Bridge, City Centre Access Infrastructure and the Integrated Transport Hub are complete to detailed design and progressing to the tender stage to appoint a main construction contract.
The CEO 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 the 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."
#Waterford Council 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 https://t.co/UIZ8tdkIrO pic.twitter.com/8apTO7S9zp
— Waterford City & County Council (@WaterfordCounci) November 10, 2020
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.
Waterford Council says that 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 also 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.
Political Reaction
Waterford Senator John Cummins hopes today’s announcement will be ‘the day that Waterford turns its back on negativity’.
He said “there are many people that have knocked this development from the outset and said that it will never happen because the government would never invest such a large sum of money in Waterford. I’m proud to have been part of a core team of people that never bought into this negativity; focused on the task at hand and quietly and methodically navigated the design, planning and funding approval processes. Today is the culmination of years of very hard work, and I sincerely hope it is the day that Waterford turns its back on negativity and looks forward, with optimism to the brighter future we have ahead of us, particularly in these dark and challenging times”.
Senator Cummins said “I totally understand that the public have been frustrated with the perceived lack of progress in relation to the North Quays because they haven’t been able to see the significant progress that has been taking place behind the scenes. I have also been frustrated by the inability to communicate what I have been doing to progress this project, particularly over the last twelve months due to the delicate and confidential discussions that have been taking place”.
In concluding his statement Senator Cummins said “I expect Waterford City & County Council to continue working at a pace to finalise their detailed design for the Sustainable Transport bridge, road interchanges and Transportation Hub with a view to proceeding to tender as quickly as possible. The people of Waterford and the South East can now look forward with positivity and optimism to a brighter future”.
Waterford Minister of State, Fianna Fail's Mary Butler says today is a monumental step for the project.
"The Chief Executive of Waterford City & County Council, the local authority, local and national politicians and Falcon Real Estate have all put their shoulder to the wheel on this project and the people of Waterford have been very keen to see tangible progress over the past four years," stated Minister Butler.
"For too long Waterford City and the South East region has suffered from underdevelopment and underinvestment. Waterford’s North Quays in particular, an eight-hectare site pivotally located in the centre of the region’s City has remained derelict for decades; it has hindered the integration, sustainable development and attractiveness of the City and consequently the surrounding area.
After many false dawns, this €80.6 million funding announcement marks perhaps the most significant milestone so far and now the necessary works can commence, and the North Quays can become a reality. The people of Waterford deserve this breakthrough,” concluded Minister Butler.
At Cabinet this morning Gov signed off on €80.6m Urban Regeneration & Development Fund (URDF) support for the North Quays. Total package of €110.6m for regeneration project - €30m having been committed by the Dept of Transport via the NTA. #Deise #Waterford @WaterfordCounci pic.twitter.com/bwRMshYFky
— Mary Butler TD (@MaryButlerTD) November 10, 2020
Green Party TD Marc Ó Cathasaigh has described it as a 'once in a generation' funding announcement, saying "it's something that's destined to change our city and change our city for the better".
He described it as "a substantial and historic vote of confidence in Waterford".
Today is a very big day for #Waterford as we welcome big funding news for the entire South East region! €80m from the Dept of Housing and €30m from the Dept of Transport for the #NorthQuays project which will transform #Waterford city and county. #verygoodnewsday pic.twitter.com/Jyz2ccgCSn
— Marc Ó Cathasaigh TD (@MarcKC_Green) November 10, 2020
Waterford Sinn Fein TD David Cullinane says the development can unlock the potential of the Southeast and is a massive step forward for the region.
Speaking today Deputy Cullinane said:
"I warmly welcome this announcement today. It is long overdue and a massive step forward. I want to commend all those who worked on this project over many years.
"The North Quays development is strategically placed and offers huge potential. The mix of residential, commercial and retail development will transform the City, County and the Region. Locating the train station on the North Quays will integrate public transport with a key city-centre development.
"Waterford City and County faces many challenges but has huge potential. Today’s announcement is a big step forward for the county. Our focus now must turn to delivering quality and affordable homes and better health care infrastructure for the region.”
Great news for Waterford with €110m funding for North Quays. Waterford faces many challenges but has huge potential. Today’s announcement is a big step forward. Our focus now must turn to delivering quality & affordable homes & better health care infrastructure for the region pic.twitter.com/VRWXLtOeFY
— David Cullinane T.D. (@davidcullinane) November 10, 2020
Independent Deputy Matt Shanahan agrees that the North Quays development will transform Waterford City and County.
Fantastic news for #Waterford and the South East region. Delighted to see the need for the development of the North Quays finally come to fruition. This project will transform our City & County. https://t.co/UBlHrra37o
— Matt Shanahan TD (Ind) 🇺🇦 🇪🇺 (@MattShanahanTD) November 10, 2020
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