Waterford City & County Council has granted planning permission for a potential €500m development on the city’s north quayside.

Falcon Real Estate Development Ireland today (10 July) confirmed that it had received permission for the Waterford North Quays Strategic Development Zone (SDZ).

Jobs

The developer claims the project will “regenerate and re-ignite" the regional economy, and that it will be the largest mixed-use property development in the South-East.

Falcom says the project will provide almost 2,900 full-time jobs by 2023 and will lead indirectly to a further 4,500 jobs.

Funding

Its plans for the site include a seven-storey twin office block beside the city’s train and bus station, five residential buildings including 298 riverside apartments and a 15-storey hotel and conference centre.

Falcon is hoping to start work on the site by the end of the year, but is awaiting public funding of €139m for infrastructure, including a new bridge, which it says will unlock €350m of private investment.