Government Gives Green Light to €1.063 Billion Cork Docklands Regeneration

The Government has approved the preliminary business case for the Cork City Docklands Enabling Infrastructure Investment Programme, paving the way for a major transformation of Cork's eastern waterfront.

The programme, with a total estimated cost of €1.063 billion, will provide the enabling infrastructure needed to redevelop a 147-hectare brownfield site to the east of Cork City centre. The development is designed to support housing for up to 25,000 people and has the potential to create up to 25,000 jobs.

The redevelopment will include high-quality, high-density, mixed-use development in sustainable waterfront areas, with new urban quarters and projects intended to act as catalysts for further investment and regeneration in the city.

Funding for the programme includes €357.6 million allocated under the Towns and Cities Regeneration Investment Fund, with matched funding of €116 million from Cork City Council.

Taoiseach Micheál Martin said:

"Cork Docklands is one of the most exciting urban regeneration projects in Ireland. This week's Government approval is an important step in unlocking the key infrastructure needed to support the building of thousands of new homes, the creation of jobs and the development of new sustainable communities, right in the heart of the city centre. The Cork Docklands project will be truly transformative not just for the city, but for the entire county and wider region."

Minister for Housing, Local Government and Heritage James Browne TD added:

"With the Taoiseach I am pleased to announce our Government approval today for this potentially transformative project for Cork City.

This ambitious programme will put in place the infrastructure needed to breathe new life into Cork's iconic docklands area, laying the groundwork for up to 25,000 homes, as well as providing jobs, business opportunities, and the potential for vibrant new urban quarters.

This is a long-term project that is ambitious in its scope, but it has been carefully devised and evaluated to guarantee value for money with clear project deliverables, realistic timelines, and checks and balances along the way. With over €350 million in funding from my Department through the Towns and Cities Regeneration Investment Fund and matched funding of €116m from Cork City Council, work can now begin on the first batch of projects to deliver very real benefits to the local community."

Chief Executive of Cork City Council Valerie O'Sullivan said:

"Cork Docklands is a transformational project for Cork City and we have already seen huge progress.

Government's commitment to multi-annual investment will enable Cork City Council to deliver the necessary infrastructure to support continued growth in housing, jobs and enhance Cork City as place to live, work and invest."

The preliminary business case was reviewed by KPMG and the Major Projects Advisory Group, as well as the Department of Housing, Local Government and Heritage, as part of the External Assurance Process for the project.

The programme has been broken into project bundles, with Tranche 1 projects designed as standalone, economically viable investments that can deliver significant early benefits independently of further funding. These are scheduled to progress during the current lifetime of the Towns and Cities Regeneration Investment Fund, with Tranche 2 to follow once additional funding is identified.