John Cummins (Fine Gael) | Oireachtas source

I do. A Chathaoirligh, can I congratulate you as well at the outset? This is my first time speaking in the House. It is a great honour to be elevated to the role of Cathaoirleach and I wish you the best with it.

Tomorrow marks a significant milestone for Waterford city and the south-east region. A planning decision will issue for a transformative 125,000 sq. m mixed-use development on the city's north quays. The project aims to deliver significant retail, hotel and conferencing facilities, prime city centre offices and 300 apartments. The development will be linked to the existing city centre via a public transportation bridge over the River Suir and it is also to have a transportation hub, which will give a modern interchange of both rail and bus transport.

The vast majority of hurdles appear to have been overcome. In 2016, the Government designated it a strategic development zone. An extensive planning scheme for the eight ha site was developed by Waterford City and County Council and approved by An Bord Pleanála. It was listed as a key project in the national planning framework, NPF, and the national development plan, NDP. All elements of the public infrastructure have gone through an extensive Part 8 planning approval process and a planning decision will issue tomorrow for this ambitious scheme.

To date, the State has allocated €20 million via the urban regeneration and development fund, URDF, and the National Transport Authority, NTA. However, a further €90 million is required over the next four years to facilitate the infrastructure required for the development and positive commitments have been made in recent times in this regard. The return on the State investment has been independently verified by Indecon. It will unlock €400 million of private sector investment and create more than 2,300 jobs in an area with a stubbornly high unemployment rate.

I believe this project is a litmus test for the NPF and the commitments contained in the programme for Government to ensure balanced regional development.Waterford and the south east need this development and I ask that the Minister for Housing, Planning and Local Government, Deputy Darragh O'Brien, who is responsible for the urban regeneration and development fund, URDF, be invited into the House to make a statement on this matter. I also ask that priority be given to this project in the July stimulus package.