Falcon submits Planning Application for North Quays Development

FALCON REAL ESTATE DEVELOPMENT SUBMITS PLANNING APPLICATION FOR WATERFORD NORTH QUAYS DEVELOPMENT

Waterford North Quays is a project of Falcon Real Estate Development Ireland.

Over eight hectares of urban regeneration on a south-facing 1km historic quayside waterfront in the city centre, it will be the largest mixed-use real estate development in the South East of Ireland’s €18bn economy.

A new city-centre skyline to de developed for Waterford city centre
€500m total estimated investment in both North Quays & Michael Street, delivering nearly 2,900 full time jobs by 2023 – and 4,500 indirect jobs.

Waterford, Ireland 17th December 2019: Falcon Real Estate Development Ireland confirms that it has submitted its application for Planning Permission to Waterford City & County Council for the Waterford North Quays development. Subject to the granting of planning permission, work on the project is likely to start by the 4th quarter of 2020. Waterford North Quays, an eight hectare real estate mixed use scheme, was conferred SDZ (Strategic Development Zone) designation by the Government in 2016. The North Quays development will provide over 2,800 new jobs on site by 2023.

Project highlights

The project description is a mixed use development, to include:

  • Seven storey twin block comprising 15,000 square metres of prime office space adjacent to the city’s train & bus station
  • Five residential buildings ranging in height from 7 to 17 storeys, with 300 riverside apartments to accommodate 500 to 600 residents
  • A fifteen storey 220-room 4-star hotel and conference centre
  • An extensive open public space designed to attract visitors from Waterford, the surrounding areas and international tourists
  • The location of one of Ireland’s most modern and multi-nodal sustainable transport hubs
  • Mixed use commercial building destination comprising tourism, retail, food & beverage and leisure

Visitors will be able to enjoy quality restaurants and cafés with over 30,000 square metres of green open space and a riverside promenade, an integral part of the recently opened Ireland South East greenway; connecting Waterford greenway to Kilkenny’s & Wexford’s”

Transport Hub

Waterford North Quays is set to become one of Ireland’s most modern transport hubs, connecting the site locally and nationally with rail, bus, the Greenway, pedestrian and electric bus with a sustainable link-bridge to Waterford city centre across the River Suir. The new hub is expected to cater for over 4 million visitors annually across the bus, train & Greenway, with a further 13 million cars. The transport infrastructure for Waterford will be further enhanced by the Government’s recent announcement that it is investing to expand the runway at Waterford Airport.

Economic Benefit

The North Quays and Michael Street developments mark a major economic boost for Waterford and the South East Region of Ireland. The estimated investment is €500 million phased over three to five years. 2,900 full time roles will be created on-site when the development of the new district opens, with an additional 4,500 indirect jobs in the catchment. The planned completed integration of the scheme with the existing urban centre of the City will confirm Waterford as the Gateway City of the South East Region, increasing regional and national visitation and tourism which will serve to reverse regional economic leakage in retail, tourism and talent/jobs, but also act as catalyst for Ireland 2040. Under Ireland 2040, by 2040, the North Quays 60-minute catchment sees housing demand of €14.5bn, Consumer spend grows by €3.2bn, Office demand of €900m and tourism growth of €400m.”

Commenting on these latest developments, Falcon Real Estate Development said:

“The submission of the application marks completion of the planning phase whilst commercialization is on-going. This is an exciting step forward for this landmark urban regeneration for the community and emphasises our ambition to create a very high quality, amenity-led environment for the residents of Waterford and the South East. The two projects of North Quays and Michael Street will make Waterford and the South East an unrivalled destination in South East Ireland. In addition, the future sustainable transportation hub combines to give public transport connectivity, direct access to the country’s motorways and national road network, making it an outstanding location for both prime office, tourism and retail occupiers, in addition to new residents.

We are acutely aware of the enormous public expectations for the North Quays and Michael Street projects. We are working closely with Waterford County Council, Kilkenny Council, Government Departments and State bodies, to ensure the delivery of the two developments and look forward to the imminent announcement of the Government funding model to deliver its Ireland 2040 project.”

(Ends)

Issued on behalf of Falcon Real Estate Development by Heneghan

Media contacts

Nigel Heneghan + 353 86 2587206 – nigel@heneghan.ie
Fiona Peppard + 353 (0) 1 660 7395 – fiona@heneghan.ie

Note to editors

About Falcon Real Estate Development

Falcon Real Estate Development is an independent company. It aims at developing a significant portfolio of Real Estate projects. The company strategy is to source, develop and operate a quality range of assets in European Growth Markets to reflect the strength and innovation delivered in the home markets of the company’s owners.

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