The new Michael Street development can become like Ireland's Carnaby Street, according to the developers of the project.
Referring to the famous London street, Rob Cass, from developers Falcon Real Estate, said the site required a different kind of design.
"We have to develop and deliver Michael Street as well (as the North Quays). We view it more like a Carnaby street and like the new plans...we're working with the Council to see how we can make it happen. It's 35 /40 million of a 400 million investment - we're committed to making it work, it's how we make it exciting and how do we plan it that it's a different type of design."
Updated plans for the Michael Street area were revealed to Waterford councillors in July of this year. They include a 137 bed hotel, reduced retail space, apartments, town houses, a creche, cafe/restaurant area and pocket parks.
Mr Cass says there is no shortage of interest in the site, which will be developed in tandem with the north quays site. He said it had "great potential" and should take two years to build.
Retail Outlet
Meanwhile, on the north side of the river, a major outlet village will form part of the North Quays mix.
Freeport Retail will operate the outlet village. The UK -based company develops and operates Outlet Centres globally.
Mr Cass says the company is "delighted" with the potential this region has to offer.
Freeport Retail has links to thousands of brands and will now work to sign them up over the next three years.
