EUR 110 million allocated for Waterford’s North Quays Project
The state funding will enable the completion of the Sustainable Transport Bridge, the City Centre Access Infrastructure and the Integrated Transport Hub
- November 11, 2020 16:00
Waterford City and County Council, Ireland is to receive EUR 80,600,000 funding from the Urban Regeneration Development Fund managed by the Department of Housing, Local Government and Heritage and additional EUR 30,000,000 from the National Transport Authority. The money is channelled towards speeding up infrastructural works for the realization of the North Quays Strategic Development Zone.
Project reaching tender stage
The funding which was announced yesterday will enable the completion of the three infrastructural pillars of the project - the Sustainable Transport Bridge, City Centre Access Infrastructure and the Integrated Transport Hub. With their design complete, Waterford City and County Council can now proceed to tender stage to find a construction contractor. The funding will also help to advance associated infrastructural works that are being carried out by project partner Kilkenny County Council.
Hailing the announcement on the municipal Facebook page, the Mayor of the City and County of Waterford Damien Geoghegan said: “Today is a 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.”
Economic growth and ecological benefits
The North Quays project is the largest commercial development in Waterford and currently the largest urban regeneration project in Ireland. It is expected to contribute to a 7 percent growth rate of Waterford’s economy as well as a 1,5 percent growth of the economy of the wider South East Region.
Chief Executive of Waterford City and County Council, Michael Walsh commented on the occasion: “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 has not just economical but environmental implications as well. A greenway will provide direct access to the City Centre of Waterford and other intercity locations. This will give a boost to active mobility, with all associated health and time-saving benefits, enable a shift to more sustainable transport and bring carbon emissions down.
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