Revised plans on Michael Street shopping centre will be unveiled this afternoon.
The site already has planning permission and is to be developed in tandem with the North Quays project.
Local politicians will today see updates to the plans for the area.
Deputy Mayor of Waterford Eddie Mulligan says an update is badly needed.
"The City centre at the moment is struggling more than it ever struggled. After the recession we worked back to build occupancy back up to 95 per cent. It's now down as low as a a 25 per cent average from Patrick Street right down as far as the car stand. And the worst street there at the moment is Michael Street Lower which has a 37 per cent vacancy level on a Saturday."
He says pressure needs to be put on the developer Falcon Real Estate.
"The developers in North Quays are now sitting on a very valuable site and I understand we were contracted to develop and drive on the Michael Street Shopping Centre. At this stage a very serious meeting must be held with the developers to getting boots on the ground. I'm hearing rumours they may well be going back in for planning. The whole idea was that planning was granted based upon the needs of the city centre. More importantly the Newgate St New St carpark is unused at the moment so i would certainly be putting pressure on them to drive on and get a car park started."
