Mary Butler (Waterford, Fianna Fail) | Oireachtas source

The north quays in Waterford is the site of a proposed €350 million regeneration project that will be what can only be described as a game changer for Waterford. This opportunity has presented itself to Waterford through the hard work and efforts of Waterford City and County Council under the leadership of its CEO, Michael Walsh. The proposed investment in Waterford city by the Alhokair Group from Saudi Arabia has provided a much-needed confidence boost for the city and indeed the whole south east. The proposed development at a cost of €350 million will be a game changer for Waterford. The south east needs a regional city of consequence and that city must be Waterford. Waterford must be enabled for propulsive growth. For regions to be strong, they need a strong city.

However, this project is so much more. It has the additional potential to place an emphasis on additional permanent services such as healthcare, education, and transport. The economic benefits will be significant. The proposed development will happen on approximately 17 acres of substantial and spectacular river frontage. The proposal includes development of a total of 60,000 sq. m to include retail units, leisure and office space, 200 apartments and a relocated train station, which will result in an integrated transport hub. This will have the effect of providing a sustainable transport corridor and improving access from north to south by creating a pedestrian bridge linking the north quays to the south quays and the remainder of the city centre. This development will act as a catalyst for other developments like the Ard Rí Hotel and the Michael Street shopping centre. The north quays development will provide an increase of 50% in Waterford's retail offering. It is envisaged that 2,300 direct jobs will be created on completion of the project.

Under the national planning framework, Waterford metropolitan area has been designated for population growth of up to 30,000. If Waterford is to realise this aspiration, there is no doubt that the development of the north quays is crucial. In 2017, Waterford City and County Council applied for funding of €20.1 million from the urban regeneration and development fund for the first phase of this development. It received €6 million, which is well short of what is required. This is incredibly disappointing. The Government hyped up its support for this project consistently and now the city community has once again been left short-changed by this Government. The Government must accept that life exists outside of the M50. Waterford can and must act as a release valve for the pressure that is building in the capital. The city and county council has done an amazing job in getting the project to the current stage with the support of politicians, Waterford Chamber of Commerce, the Alhokair Group and other stakeholders. We now need to see how seriously the Government views promoting regional economic development. What we need to see now is certainty and indeed commitment by the Government to progress this invaluable project. The key words here are certainty, commitment and a timeframe to progress this project. Certainty to enter into contracts is required relatively soon. The investors are committed, as are the local authority and the people of Waterford city and county. Now we need the absolute commitment from Government. At a time of economic growth and balanced budgets, commitment is needed from Government.

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