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Waterford confirms allocation of €110m, securing North Quays SDZ key developments

Waterford confirms allocation of €80,600,000 Urban Regeneration Development Funding and €30,000,000 National Transport Authority funding which secures North Quays Strategic Development Zone key infrastructural developments

Waterford City and County Council welcomes the announcement of €80,600,000 funding from the Urban Regeneration Development Fund by the Department of Housing, Local Government and Heritage and €30,000,000 from the National Transport Authority for infrastructural works for the development of the North Quays Strategic Development Zone site. Today’s funding announcement is a significant step towards completion of the commercialisation of the site by Falcon Real Estate Development Ireland and enables the move to detailed design and construction phase.

The funding announced today will enable the completion of the three key infrastructural elements which Waterford City and County Council are progressing as well as associated infrastructural works that are being progressed by Kilkenny County Council   Since 2018 funding provided by both the Urban Regeneration Development Fund and the National Transport Authority has facilitated the project development.     The Sustainable Transport Bridge, City Centre Access Infrastructure and the Integrated Transport Hub are complete to detailed design and progressing to tender stage to appoint a main construction contract.

The Mayor of the City and County of Waterford, Cllr. Damien Geoghegan on confirming the funding announcement from National Government said “Today is an historic day for Waterford and the south east region. This funding announcement solidifies our commitment to the North Quays Strategic Development Zone which is the single largest enabler of regional economic growth.  Today represents an opportunity for Waterford City to realise its role as the largest urban centre in Ireland’s largest region. I am honoured to have worked with my colleagues in local and national government to secure this essential funding.”

The opportunity for Waterford to meet the targets as set out in Project Ireland 2040 is underpinned by today’s announcement. The Urban Regeneration Development Fund was established primarily to support the compact growth and sustainable development of Ireland’s cities and large urban areas.  Waterford’s role as an important driver of national growth and a regional city of scale is identified in the National Planning Framework and confirmed in the Regional Spatial and Economic Strategy for the Southern Region and recently adopted Waterford City Metropolitan Area Strategic Plan 2020.

Chief Executive of Waterford City and County Council, Michael Walsh said, “We have worked in partnership with Kilkenny County Council, Irish Rail and Falcon Real Estate Development to bring this project to fruition and today is a really strong commitment by national government in Waterford‘s future as the economic capital of the south east. Notwithstanding the impact of COVID on our economy, Waterford is well placed to show resilience and recover with the delivery of 1,500 new full time jobs directly related to the construction phase of the project alone. In terms of the long term Waterford 2040 vision, we will work to continue to invest in regeneration in key locations which will reshape the region and drive economic growth.”

The North Quays project is the largest commercial development in Waterford and currently the largest urban regeneration project in the Country.  The combined private and public investment in the project is estimated at over €500m, with the private development delivering nearly 2,300 full time jobs by 2023  and with the creation of a further 4,500 indirect jobs in the community.   A 7% growth rate to Waterford’s economy is anticipated as well as a 1.5 % growth to the wider South East economy.

Visitor numbers to the region are expected to increase with the creation of a flagship visitor’s centre in the heart of the North Quays that can cater for one million visitors.  The provision of high quality office space and complimentary facilities will increase the attractiveness of the region for foreign investment.  This will, in turn, leverage increased economic activity for local business and the local economy.

The North Quays project will act as a catalyst for the development of commercial and residential land with direct sustainable access via the greenway to the City Centre and intercity locations allowing for active travel and associated health benefits, journey time saving, modal shift to more sustainable transport and reduced emissions.  This plan led, holistic and sustainable approach to development is in line with current Government policies and the National Planning Framework.  It will ensure the South act as a key enabler into the future for Waterford City and the wider region.

ENDS

Waterford receives confirmation of €15.1m funding towards Sustainable Transport Infrastructure

Waterford City and County Council is delighted to announce that funding of €15,175,000 has been awarded to Waterford City to fund expenditure in 2020 under the National Transport Authority’s (NTA’s) Sustainable Transport Measures Grant (STMG).  This includes €12,600,000 funding for the Waterford North Quays project including the Dock Road and Abbey Road Access works and the Sustainable Transport Bridge. An additional €1,550,000 funding has been made available for the Bilberry to City Centre Greenway extension and a further €1,025,000 towards City Centre Sustainable Transport initiatives.

The Mayor of the City and County of Waterford Cllr. John Pratt welcomed the funding announcement stating, “The funding represents a confidence in Waterford’s ability to realise our ambitious programme of developments which when realised will transform our City into a major urban centre of consequence and a driver for regional development”.

NTA funding for the North Quays will focus on the Sustainable Transport Bridge and the proposed Access Infrastructure.  The project will see the construction of a Sustainable Transport Bridge, linking the Clock Tower to the North Quays Strategic Development Zone (SDZ) site for pedestrians and cyclist, and linked to the existing Greenway via the proposed Bilberry extension.  The bridge will also accommodate a shuttle bus.

The tender process has already commenced for the Sustainable Transport Bridge and Access Infrastructure works. The funding provided for 2020 will enable the project to progress to the construction stage and it is envisaged that a contractor will be on site before the end of the year.

The 2020 funding complements previously STMG funded transportation projects in Waterford, this includes works at Hennessey’s Road and Browns Lane which is due to reopen shortly, the WIT to City Centre route, Bilberry to City Centre improvement works as well as planning and design works for transportation proposals at the North Quays.  The funding of these critical infrastructural developments will support a modal shift towards walking, cycling and public transport and will act as a catalyst for the sustainable development of the City, promoting further connectivity both north and south of the River.

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.”

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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.

Sustainable Transport Bridge & Transport Hub granted planning approval

Waterford City and County Council received positive news today from An Bord Pleanála, approving the development of the River Suir Sustainable Transport Bridge.  This complements the news on Monday last that Waterford City and County Council Metropolitan District passed by resolution a Part 8 Planning Application for a new Transport Hub in the North Quays.

The Sustainable Transport Bridge will connect the City from the South Quays to the North Quays Strategic Development Zone (SDZ) and through to a new Transport hub that will replace the existing Plunkett Train Station.  These developments will support a modal shift towards walking, cycling and public transport and will act as a catalyst for the sustainable development of the City to the north of the River.

The Mayor of Waterford City and County Council, Cllr John Pratt said “I am delighted to be part of the exciting and innovative regeneration which is taking place across Waterford City and today’s announcement brings us another step closer to realising Waterford’s vision for increased growth and delivering on the population targets in Project Ireland 2040”

Waterford City and County Council Chief Executive, Michael Walsh said “Today’s news is the achievement of another significant milestone in Waterford’s ongoing transition. The positive decision by An Bord Pleanála, the approval of the Part 8 Planning for the Transport Hub by the Metropolitan Council and the funding approvals for the Greenway extension into the City and for the Kilkenny Greenway will dramatically improve sustainable transport in the City and the delivery of its long-term development objectives.”

The bridge with a 207m span will be suitable for pedestrians, cyclists and public transport and will incorporate an opening centre span necessary to allow river traffic.   The Transport Hub to the north of the bridge will also allow for a new bus set down area, short term parking facilities and link with the new Waterford to New Ross Greenway.

These developments are critical infrastructural connections and will stimulate coherent sustainable living in the City, connecting Ferrybank, the North Quays with the City Centre and providing key linkages into the Viking Triangle, South East Greenway and promoting the further development of the North Quays Strategic Development Zone lands.

Public Consultation for North Quays Transport Hub opens

Planning application comes as Waterford is buoyed by investment in Airport and Greenway

Plans for a state-of-the-art Transport Hub on Waterford’s North Quays go on public display today (26 July) at Waterford City and County Council offices and online. The Transport Hub is part of a transformative urban regeneration project, which will see the redevelopment of the eight hectare North Quays site into a modern mixed use development with an hotel, offices, apartments and 50,000 square meters of retail, hospitality and entertainment space.

Waterford City and County Council’s Part 8 planning application proposes the construction of a new train station to replace the existing Plunkett Station. The planning in the city’s designated Strategic Development Zone (SDZ) also includes a new bus set down area and short-term parking facilities. This latest milestone for the North Quays’ development comes at a time of significant investment for the county and region with multi-million euro funding recently announced for Waterford Airport, Waterford Greenway, and the Kilkenny Greenway from Waterford to New Ross. Councillor John Pratt, Mayor of Waterford City and County Council said: “It’s fantastic to see the innovative North Quays development take a significant step forward with the Part 8 planning application for the Transport Hub. This will be one of Ireland’s most modern transport hubs, linking the city’s rail and bus services and dramatically improving access from north to south. It will be transformative for those living and working in Waterford — connecting with the Greenway, the proposed sustainable transport bridge and an enhanced road network.”

Further developments for the SDZ, which is a project under Project Ireland 2040, will see Falcon Real Estate Development Ireland imminently submit a planning application for the eight-hectare real estate mixed-use scheme on Waterford’s North Quays and An Bord Pleanála decide on the Planning application for the Sustainable Transport Bridge to the South Quays. In making their decision on the new Sustainable Transport Bridge across the River Suir, An Bord Pleanála has sought further information on a specific issue relating to the visual impact of the vessel protection system on the opening section of the bridge. Waterford City and County Council will be responding in the next two weeks but there will be no impact on project timelines.

Waterford City and County Council Chief Executive, Michael Walsh added: “The ground-breaking Falcon Real Estate Development Ireland scheme, together with the Transport Hub and the Sustainable Transport Bridge, will transform Waterford into a modern city quarter. The North Quays’ offices and accommodation will provide for a range of enterprises and up to 1,500 jobs primarily targeted at Foreign Direct Investment. In total, 2,300 jobs will be generated by the development and a further 1,000 in strategic industrial lands.These additional jobs alone will generate consumer spend in excess of €50m per annum and lead to an estimated annual footfall of 2,500,000.

“We are a city undergoing huge transition, with 5,000 additional jobs expected by 2025 and Waterford’s tourism numbers to double by 2025 to one million. The North Quays, the development of Mount Congreve as a world class visitor experience and the Government’s recent €2.65 million investment in the Waterford Greenway and €5 million in Waterford Airport, firmly places Waterford as the gateway city of the south east. Waterford is driving forward with the delivery of a forward-looking urban centre that will make it the most cost competitive regional city in Ireland, accelerating regional growth over the long term, and supporting a stronger national economy.”

Waterford City and County Council have submitted a bid for €104.5m to fund the North Quay development via the Urban Regeneration and Development Fund, with matching funding at a local level accounting for a further €34.8m. Part 8 comes following extensive work by Waterford City and County Council with Coras Iompair Éireann, Iarnród Éireann and Bus Éireann.  Further elements in the Part 8 include associated works such as alterations to the existing bus depot site, upgrades to the drainage network and flood defence works. The planning application is available for inspection at the Council’s offices in Waterford City and Dungarvan until 23 August. It is also available to view at www.waterfordcouncil.ie/projects/public-consultations/index.htm 
–ENDS—

NOTES TO EDITOR
Plans for the proposed Transport Hub are available for inspection at Waterford City & County Council, Customer Care Desk, Bailey’s New Street, Waterford; and Waterford City & County Council’s Civic Offices, Davitts Quay, Dungarvan. They can be viewed from 9.30am to 4pm Monday to Friday until 23 August 2019 (excluding Bank and Public Holidays). It is available to view online at www.waterfordcouncil.ie/projects/public-consultations/index.htm

Online submissions or observations with respect to the proposed development, dealing with the proper planning and sustainable development of the area in which the development would be situated may be made in writing to the local authority, online at http://bit.ly/NorthQuays-Part8s no later than 6th September 2019.

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.

Falcon announces key advisor line-up for North Quays and Michael Street Projects

Waterford, Ireland 9th April 2019: Falcon Real Estate Development Ireland, the company that is backing the Waterford North Quays and Michael Street development projects, has appointed its key advisors including the leasing agency and design team for the project. Cushman & Wakefield, a leading global real estate service firm, has been appointed as the leasing agency for the entire North Quays project. Cushman & Wakefield will be responsible for the commercialization of the retail, office, residential and hospitality components of the project and a leasing campaign targeting potential retailers is already underway.

A full team has been contracted for the design and build-out of the project. The Waterford office of Carron + Walsh has been appointed as both project manager and quantity surveyor for the project.  The executive architect is Echo Architecture, an international London based firm which specialises in design and build solutions for retail and hospitality projects. The planning consultant is BMA Planning.  Fewer Harrington & Partners is the technical architect.  Punch Consulting Engineers has been selected as the civil, structural and traffic engineer and also the health & safety consultant. The mechanical and electrical engineer is BDP and the fire engineering consultant is JGA.

Waterford North Quays, an eight hectare real estate mixed use scheme, was conferred SDZ (Strategic Development Zone) designation by the Government in 2016. Falcon Real Estate Development has previously confirmed that work on the project is likely to start before the end of the current year, with the objective of developing a significant quality range of assets and meeting the company’s vision for Waterford to be the “go-to” destination for living, working, shopping and entertainment. The company is currently focused on the pre-development and planning phases with a view to being site active during the last quarter of 2019.

“The proposed scheme makes for an exciting addition to the South East Region and comes at a time when there is a particular focus on how people shop. It’s no longer about the basics, it’s about providing an exceptional retail experience for customers and ensuring best in class amenities & services are all under one roof. The emphasis on this development will be to ensure a diversity of mix with a strong leisure and food & beverage offer but also creating a real state of the art environment. Despite the challenging retail environment Cushman & Wakefield believe that well positioned retail developments will continue to attract both indigenous and multinational retailers,” said Karl Stewart, Head of Retail, Cushman & Wakefield Ireland.

The North Quays and Michael Street developments will mark a major economic boost for Waterford and the South East Region of Ireland. The total investment is estimated to be €350 million in the development, phased over three to five years. 2,500 full time roles will be created during the development of the new district, with an additional 4,500 indirect jobs. The planned integration of the schemes 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, and will serve to reverse regional economic leakage. Combined with the forecasted 2040 population growth of 181,000 people for the South East, the retail market size in the South East is expected to grow from €3.49 billion in 2015 to €6.30 billion in 2025.

(Ends)

Issued on behalf of Falcon Real Estate Development by Heneghan PR

Media contacts

Nigel Heneghan + 353 86 2587206 – nigel@hpr.ie

Fiona Peppard + 353 (0) 1 660 7395 – fpeppard@hpr.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.

Falcon Real Estate confirms North Quays development to start

Waterford North Quays is a project of Falcon Real Estate Development Ireland.  With over 8 hectares, it will be the largest mixed use real estate development in the South East of Ireland.

A €350m investment, delivering 2,300 full time jobs by 2022
Waterford, Ireland 12th March 2019:

Falcon Real Estate Development Ireland reasserts its commitment to the Waterford North Quays and Michael Street developments and confirms that work on the project is likely to start before the end of the current year. An independent real estate developer and operator, Falcon Real Estate Development Ireland aims to develop a significant quality range of assets, meeting the company’s vision for Waterford to be the “go-to” destination for living, working, shopping and entertainment and is currently focused on the pre-development and planning phases with a view to being site active during the last quarter of 2019.

Waterford North Quays, an eight hectare real estate mixed use scheme, was conferred SDZ (Strategic Development Zone) designation by the Government in 2016. It will comprise a sustainable mix of 46,900 square metres convenience & comparison retail facilities, leisure, dining destinations and a Waterford Visitor Experience. Complementary to the scheme and core to its values of diversity a 200-room Four Star Hotel & Conference Centre, 15,000 square metres prime Office space, and 300 riverside apartments will be delivered in a contemporaneous and phased approach.

Waterford North Quays is set to become one of Ireland’s most modern transport hubs, connecting the site locally and nationally with Rail, Bus, Greenway, Pedestrian and Electric Bus with a link-bridge to Waterford city centre across the River Suir. It will blend carefully planned infrastructure investments with tourism, retail, business and living needs. Visitors will be able to enjoy easy parking, quality restaurants and cafes with over 35,000 square metres of green open space and a riverside promenade and integral part of the recently opened Waterford-Dungarvan Greenway. Falcon Real Estate Development’s vision is to create a new focus for Waterford city and a destination that is firmly integrated with the local community, offering opportunities for living, working and socializing.

The North Quay development will mark a major economic boost for Waterford and the South East Region of Ireland. The total estimated investment is estimated to be €350 million in the development, phased over three to five years. 2,300 full time roles will be created during the development of the new district, with an additional 4,500 indirect jobs. 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, tourism and will serve to reverse regional economic leakage. Combined with the forecasted 2040 population growth of 181,000 people for the South East, the retail market size in the South East is expected to grow from €3.49 billion in 2015 to €6.30 billion in 2025.

(Ends)


Issued on behalf of Falcon Real Estate Development by Heneghan PR

Media contacts

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.