'Monumental step' as €80.6 million funding announced for Waterford North Quays
The Government has signed off €80.6 million in Urban Regeneration and Development Fund (URDF) support for the Waterford North Quays project at a meeting of Cabinet this Tuesday morning.
A total package of €110.6 million will go towards the regeneration project, with €30 million having been committed by the Department of Transport through the National Transport Authority.
Waterford Minister for Mental Health and Older People Mary Butler has said this is a "monumental step" for the project, Waterford City and the South East.
“This morning’s Government announcement represents one of the single biggest investments ever in the South East. The North Quays project is the largest commercial development in Waterford and currently the largest urban regeneration project in the Country,” she said.
“The chief executive of Waterford City and County Council [Michael Walsh], the local authority, local and national politicians, and Falcon Real Estate have all put their shoulder to the wheel on this project and the people of Waterford have been very keen to see tangible progress over the past four years.
“For too long, Waterford City and the South East region has suffered from underdevelopment and underinvestment. Waterford’s North Quays, in particular, an eight-hectare site pivotally located in the centre of the region’s city has remained derelict for decades. It has hindered the integration, sustainable development and attractiveness of the city and consequently the surrounding area," the Waterford Minister added.
Senator John Cummins said he hopes today’s announcement will be "the day that Waterford turns its back on negativity". The Waterford Senator said: "There are many people that have knocked this development from the outset and said that it will never happen because the Government would never invest such a large sum of money in Waterford. I’m proud to have been part of a core team of people that never bought into this negativity, focused on the task at hand, and quietly and methodically navigated the design, planning and funding approval processes.
“I totally understand that the public have been frustrated with the perceived lack of progress in relation to the North Quays because they haven’t been able to see the significant progress that has been taking place behind the scenes. I have also been frustrated by the inability to communicate what I have been doing to progress this project, particularly over the last 12months due to the delicate and confidential discussions that have been taking place," he continued.
Senator Cummins said he expects Waterford City and County Council to continue working at a pace to finalise its detailed design for the Sustainable Transport Bridge, road interchanges and the Transportation Hub with a view to proceeding to tender as quickly as possible. "The people of Waterford and the South East can now look forward with positivity and optimism to a brighter future," he added.