Fewer Harrington & Partners welcomes the recent announcement of the €110 million investment in Government Funding for the North Quays Development – Waterford’s Next Chapter.
Last week, Minister Darragh O’Brien announced the approval of €80 million in Urban Regeneration and Development Fund (URDF) support for the Waterford North Quays Strategic Development Zone project. This is in addition to a €30 million investment committed to by the Department of Transport, culminating to a total investment of €110 million.
This is a vote of confidence to Waterford, and it is one of the single biggest investments in the South East ever, and impressively, the largest urban regeneration project in Ireland.
With the €110 million secured by Waterford City & County Council, the full investment of over €500 million will extend the city centre to serve a future population of 83,000 people.
It will also include an integrated multi-modal transport hub to sustainably meet the access requirements of the city.
The development comprises retail facilities, leisure, dining and a visitor centre. It will include a 200-bed Four Star Hotel and Conference Centre, prime office space, 300 riverside apartments, underground car parking and amenity facilities.
Key Outcomes of the North Quays Development
- 30% increase in population by 2040.
- 2,300 full time jobs created by 2023.
- A further 4,500 indirect jobs created.
- 5-7% envisioned regional GDP increase each year to 2040.
- 200% increase in consumer spend in the catchment by 2040.
- Forecasted tourism spend forecasted to reach €1 billion by 2030.
- Approximately 85,000 new homes created in the South East by 2040.
FHPs is extremely proud to be playing a key role in the development of the North Quays, having created the master plan.
With this green light, Fewer Harrington & Partners is preparing to drive on with the project as the technical architects for Falcon Real Estate Developments, along with our Pivotal International partner Carron + Walsh who are providing project management and cost consultancy services.
We look forward to playing our part in creating a prosperous future for Waterford City and the South East, both socially and economically.
This announcement marks Waterford’s Next Chapter.
Following on from the funding announcement, Niall Harrington, Partner at Fewer Harrington & Partners, and Marian Walsh of Carron + Walsh joined Damien Tiernan on WLR FM’s Déise Today to discuss next steps for the development.
Click here if you would like to listen back on the interview:
The North Quays Development brings Waterford City closer to meeting the objectives as set out by Project Ireland 2040, further positioning the city as the hub of the South East.
If you would like to know more about the North Quays SDZ, or simply would like to get in touch, contact us here.
To learn more about the story so far for this ground-breaking development, read this comprehensive article by WLR FM.
To see our current project portfolio, please click here.