John Cummins (Fine Gael) | Oireachtas source

I welcome the Minister of State, Deputy Burke, to the House and I wish him the very best in his role. On 9 July, I spoke on the Order of Business on the eve of a decision being made by Waterford City and County Council regarding planning permission for a transformative 125,000 sq. m mixed-use development on the north quays in Waterford city. The Minister of State is well aware of this project because I have spoken to him about it and explained it on several occasions. It is, however, worthwhile outlining the significance of this development for Waterford and the south-east region.

I firmly believe this project will act as a catalyst for a decade of accelerated growth, in line with the projections outlined in Project Ireland 2040. That is why I have promoted this project and worked hard to ensure its delivery since I was Mayor of Waterford in 2016, when the site was first designated as a strategic development zone, SDZ. Some people dispute that a rising tide lifts all boats, but I could not disagree more in this instance. This is not just about this particular development, but about the wider follow-on development in housing and many other areas, which is already at an advanced stage of discussion. The project aims to deliver significant retail, hotel and conference facilities, prime city centre offices and 300 apartments and it will be a game changer for Waterford and the entire region. The previous Fine Gael Government recognised the potential of the project, including its potential to create significant number of jobs in the area, and that is why this project was prioritised in Project Ireland 2040. It was listed in the national development plan and funding of €20 million has been allocated to it by the National Transport Authority, NTA, and urban regeneration and development fund, URDF.

Despite these developments, significant uncertainty has remained about this project. The uncertainty exists because Waterford City and County Council requires funding of €110 million over four years to facilitate the construction of enabling infrastructure for this prime brownfield site. This involves a public transportation bridge over the River Suir to link the north quays SDZ with the city centre, the relocation of Plunkett Station to the centre of the site to create a modern public transportation interchange and the upgrading of road infrastructure in and around the site. These works are of critical importance for this exciting project.

Such investment will unlock €400 million in private sector investment and create more than 2,900 jobs in an area with a stubbornly high unemployment rate. I believe this project is the litmus test for the national planning framework and the commitments contained in the programme for Government for balanced regional development. Significant Government investment in Waterford and the south-east region is overdue. I stress that time is of the essence for this project. A decision is urgently needed to enable Waterford City and County Council to progress the tender for the bridge, roads and transportation hub and to enable the finalisation of contracts with the developer.

Many have doubted the Government's commitment to this project in recent years. I am proud to say I am not one of them. However, the time has passed for talking and uttering positive reassuring words about this project. It is now time for tangible action and that requires that a memorandum go to the Cabinet seeking approval for the funding I outlined. I hope the Minister of State will have a positive update for me. I would also like him to give me an indication of when further funding is due to be announced under the URDF. Councils across the country are eagerly awaiting that news, including my local authority in Waterford which has a significant project proposal for the wider Viking triangle and cultural quarter areas. I am sure that comprehensive proposal has scored well in the Department. I thank the Minister of State for coming into the House and I look forward to his response.