Falcon Real Estate confirms end of November 2019 submission date for North Quays development
- Waterford North Quays is a project of Falcon Real Estate Development Ireland
- With over eight hectares, it will be the largest mixed use real estate development in the South East of Ireland
- A €350m total estimated investment, delivering 2,300 full time jobs by 2022 – and 4,500 indirect jobs
Waterford, 31st October 2019: Falcon Real Estate Development Ireland confirms that, by the end of November 2019, the application for Planning Permission to Waterford City & County Council for the North Quays development will be lodged. Subject to the granting of planning permission, work on the project is likely to start by the fourth quarter of 2020. Waterford North Quays, an eight-hectare real estate mixed use scheme, was conferred SDZ (Strategic Development Zone) designation by the Government in 2016.
The North Quay development marks a major economic boost for Waterford and the South East Region of Ireland. The total estimated investment is estimated to be €350 million in the development, phased over three to five years. 2,300 full time roles will be created during the development of the new district, with an additional 4,500 indirect jobs.
The planned completed integration of the scheme with the existing urban centre of the City will confirm Waterford as the Gateway City of the South East Region, increasing regional and national visitation, tourism and will serve to reverse regional economic leakage. Combined with the foretasted 2040 population growth of 181,000 people for the South East, the retail market size in the South East is expected to grow from €3.49 billion in 2015 to €6.30 billion in 2025.
The project description is a mixed use development, to include:
- A thirteen storey 200-room 4-star hotel and conference centre;
- a mixed use commercial building comprising tourism, retail, food & beverage and leisure;
- a seven-storey twin block comprising 12,000 square metres of prime office space;
- five residential buildings, with 300 riverside apartments to accommodate 500 to 600 residents delivered in a contemporaneous and phased approach, with extensive open public spaces, all designed to attract visitors from Waterford, surrounding areas and international tourists;
- and the location of one of Ireland’s most modern and multi-use transport hubs.
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About Falcon Real Estate Development
Falcon Real Estate Development is an independent company. It aims at developing a significant portfolio of Real Estate projects. The company strategy is to source, develop and operate a quality range of assets in European Growth Markets to reflect the strength and innovation delivered in the home markets of the company’s owners.