New funding a 'game changer' says Taoiseach
Cork is set to receive its largest ever public sector investment with more than €405 million in regeneration funding announced by the Government.
The funding was announced by An Taoiseach, Micheál Martin under Call 2 of the Urban Regeneration and Development Fund (URDF).
Four regeneration projects are to receive funding in Cork with €353 million to be invested in the Cork Docklands Project. A further €46.5 million is to be invested in the Grand Parade area of the city which will include a new 7,700m² city library with the aim of attracting one million visits a year.
In the county, €4.7 million has been allocated for the regeneration of Mallow town centre, with the Passage West, Ringaskiddy and Carrigaline Harbour cluster to receive €817,500.
An Taoiseach Micheál Martin called the investment a “game changer for Cork” that will position the city for major growth over the next decades. “It’s all about making Cork city and county even better places in which to work, live, visit and invest,” said An Taoiseach.
Cork City Council Chief Executive Ann Doherty added that the Docklands is currently the biggest regeneration project in the country and represents a case study in sustainable compact living and working.
She said: “Here we are creating a new quarter that is built for the future - a place where people want to live, work and play because of its job opportunities, community, green spaces and reliable public transport.”
Fine Gael TD for Cork North Central Colm Burke said the investment in Cork city’s docklands will help to drive the development of a new urban quarter that will be home to more than 25,000 people.
He added that the development will comprise of a mix of homes, schools, sports and recreation facilities as well as transport infrastructure, including two new bridges for the city.
Cork’s €405 million in funding is part a total of €1.306 billion being allocated across the country.
The Department of Housing, Local Government and Heritage will now contact the local authorities on the next steps regarding funding.
Welcoming the funding, Lord Mayor of Cork Cllr Joe Kavanagh said that the potential of Cork’s docklands has long been recognised and now that ambition is finally being backed by solid investment.
He said the regeneration will provide jobs and homes to tens of thousands of people and will make Cork a “world class city to live and work in”.
All projects to receive funding under the URDF were chosen after an assessment process overseen by a project advisory board consisting of Government departments, State agencies and national and international experts in areas such as building, architecture and planning.
The Department of Housing, Local Government and Heritage received 76 project proposals with each of the country’s local authorities submitting at least one proposal.