More than €22 million in Government funding has been allocated to three major regeneration projects in Waterford City and Dungarvan.
Minister of State for Planning and Local Government John Cummins TD has announced a total investment of €22.65 million through the new Towns and Cities Regeneration Investment Fund.
Waterford City and County Council submitted three applications to the fund, with all three projects receiving approval.
The funding will support the redevelopment of long-vacant and derelict properties in Waterford City and Dungarvan.
The three projects are the Waterford City Cultural Quarter Creative Hub at 25/26 O’Connell Street, City Centre Office Accommodation at 22 Lady Lane, and the Dungarvan Innovation and Enterprise Hub at 18-20 O’Connell Street.
The Cultural Quarter Creative Hub will receive €7.5 million.
The site at the corner of O’Connell Street and Sergeant’s Lane has been vacant and derelict for around two decades.
The redevelopment will create a new base for the Waterford Cultural Quarter, with galleries, studios and workshops for the local arts community.
A courtyard between the buildings will also provide a link between Jenkin’s Lane and Garter Lane, while creating space for community events, performances and other activities.
A further €7.6 million has been allocated for the redevelopment of 22 Lady Lane in Waterford City.
The historic Georgian townhouse will be refurbished to provide modern office accommodation, with an extension to the rear expected to double the available office space.
The project will also reopen a significant area of green space which has been inaccessible for decades.
The completed development is expected to provide workspace capable of accommodating more than 70 employees in the city centre.
In Dungarvan, €7.1 million will fund the creation of an Innovation and Enterprise Hub at 18-20 O’Connell Street.
Three derelict properties will be brought back into use as a new centre for businesses, entrepreneurs and the wider community.
The hub will include incubation spaces, meeting rooms, offices, a café and exhibition space, with facilities designed to support business development, networking and community activities.
Announcing the funding, Minister Cummins said the investment represented a significant vote of confidence in Waterford.
He said the three projects would help tackle dereliction while creating new spaces for arts, enterprise, employment and community use in the heart of Waterford City and Dungarvan.
The Towns and Cities Regeneration Investment Fund is the successor to the Urban Regeneration and Development Fund and is aimed at supporting capital projects which bring vacant and derelict urban spaces back into productive use.
The three Waterford projects will now progress towards delivery, with the €23.6 million investment set to play a major role in the regeneration of both the city and Dungarvan town centre.
