Over €750 million of private investment is promised for Waterford over the next four years.
The developers of the North Quays project say with the promise of government funding for the landmark development in the offing, they can now unlock other planned projects.
The first of these is the development of 800 sustainable energy homes in Kilbarry, for which Falcon Real Estate Developments has secured €285 million.
Director of the company Rob Cass says work will begin in January 2021:
"They have been superbly designed by WIT to be zero energy with Fewer Harrington (architects). The first phase has already secured planning and the balance is going in for planning, so it's prospectively 800 homes to be delivered in the next four years prior to North Quays opening so there is sufficient housing."
Rob says between €285m for the housing investment, €355m for Michael Street and North Quays, plus a further joint venture with a US company, details of which will emerge shortly, it means a total of €750 million is set to be invested in Waterford over the next four years.
Rob says the investment is a show of belief in the potential Waterford has:
"We strongly believe in Regional Ireland’s potential and welcome the forthcoming government announcement in financing that unlocks this investment, showing that State and private collaboration unlocks growth, jobs and sustainable affordable living to kick start economies".
It is predicted that 7,000 jobs will be created once all the development work gets underway from next year.