UPDATE: A special cabinet meeting next Friday (Feb 16th) in Sligo is expected to rubberstamp the funding for Waterford’s North Quays development.
Waterford Minister of State John Halligan says he and his Independent Alliance colleagues have had an extensive meeting with Finance Minister Paschal Donohue and he’s confident the multi-million euro capital investment required to progress the development will be granted.
The Independent Alliance TD says he expects a special development fund to be set up as part of the National Planning Framework, and Waterford will be able to access the money through that fund.
“What I have been pushing for is a special fund for major urban projects, like the North Quays, and whilst I cannot say definitely that Minister Donohue will approve it, I am very hopeful. And I think this will have a very positive outcome for Waterford….as we all know it has the potential to alter the landscape of Waterford. I think it will be really good news for Waterford”.
Meanwhile, the plans for the North Quays development were formally approved by Waterford councillors last night.
The document sets out the vision for the area, which includes retail, hotel, housing and office space along with an Integrated Transport Hub.
If there are no appeals, the planning scheme will take effect in four weeks time.
This means the path would then be clear for Saudi firm Al-Hokair to begin development work.
Deputy Chief Executive of Waterford Council Lar Power said it was “a transformational moment” for Waterford.
Councillor Eamon Quinlan praised the council staff for their hard work on the project and said people in Waterford should be proud of the “homegrown team” who did the lion’s share of the work in getting this over the line.