The €60m plan for the Horizon Mall site on the Dublin Road is to be submitted to Limerick City and County Council this week.
The development aims to deliver 245 residential units, a 152-bedroom hotel, and over 100,000 square feet of office accommodation. It will also include two separate drive-thru restaurants, a service station, a community building with creche, community facilities and a multi-use games area as well as a 2.8-acre public park amenity.
The investment, which it is believed will exceed €60m is expected to have a massive impact on the local community, creating hundreds of jobs and boosting tourism and commercial activity.
Novelty ICAV, a fund managed by Davy Real Estate, will this week submit the much-anticipated planning application for the redevelopment of the former Horizon Mal, which has been derelict since 2007. The site has been on the Derelict Site Register since July 2018.
The mix of one-bed (76), two-bed (127) and three-bed (42) units should provide for the accommodation needs of up to 245 families or likely well over 600 residents.
The units will comprise a mix of duplex units and apartments, in blocks ranging from three to fourteen stories. Subject to planning, construction is expected to begin in early 2021, supporting several hundred construction jobs over the course of the multi-year build.
On completion, the hotel, and retail units are expected to create upwards of 100 jobs directly and also support and sustain several hundred indirect jobs in the community.
Subject to planning and successful leasing the proposed office complex could also accommodate up to 1,000 staff. The combination of investment expenditure, commercial activity and the creation of a vibrant new local community is expected to have a significant positive impact on the local economy.
Commenting, David Goddard, chief executive, Davy Real Estate, said: “The Singland site is optimally positioned on a corridor bordering the Dublin Road and linking the city with the University of Limerick and the National Technology Park at Plassey. This very considered development will transform a long-derelict building and local eye-sore into an attractive, sustainable development and community.
"Our plans have been designed and developed following significant engagement and pre-planning consultation with Limerick City and County Council and other local stakeholders. We are very pleased to be submitting a formal planning application this week and, subject to planning, to commencing development works in early 2021, with an immediate jobs impact of several hundred construction jobs.”
This article was first seen on https://www.limerickleader.ie/news/home/500310/60m-development-on-horizon-for-former-eyesore-site-in-limerick.html