€110m in funding will be provided by the government for the regeneration of an eight hectare site in Waterford’s North Quays. 300 apartments, a conference centre and a 15-storey hotel will be added to the city. €30m of the funding is to provide for the relocation of Plunkett train station and the construction of a bridge across the River Suir, which will be accessible to public transport, pedestrians and cyclists, thus adding to the sustainability of the area.
Falcon Real Estate, a Saudi Arabian based company, is expected to inject a further €400 to the project over four years. It is hoped that the project will create 4,800 direct jobs and 4,500 indirect jobs, beginning in early 2021.
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