€ 405 million financing announced for Cork docks and city center

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The regeneration of Cork city docks has received a major boost thanks to the government’s announcement of € 405 million urban regeneration funding this morning, of which

€ 50 million will be spent on a facelift for the city center.

The city is also poised for a new central library as part of a € 46 million renovation of the Grand Parade, which will include a renovation of Bishop Lucey Park to create a new public space linking the Grand Parade and South Main St.

The city’s vast port site, described as one of the largest brownfield regeneration sites in Europe, is awaiting just over € 353 million of the € 405 million that has been announced for Cork in under the Urban Regeneration and Development Fund (URDF) package.

Funding for Cork City is the largest allocation for a single local authority in the country.

The city will become one of the fastest growing cities in the country over the next 20 years.

The 146-hectare port region has been earmarked for development as a new urban neighborhood with the potential to host more than 25,000 and a combination of apartments, schools, sports and recreational facilities, as well as transportation infrastructure, including two new bridges.

Significant funding for the county has also been announced, with € 4.7 million announced for the Mallow town center regeneration project, including the Mallow Castle visitor center project, and € 817,500 announced for the Passage West-Ringaskiddy-Carrigaline Harbor Cluster, which includes plans for a new bike path linking the city with Passage West and a new civic space for Carrigaline.

Taoiseach Micheál Martin described the financing as “transformative” and said it will usher in a new era of growth for Cork.

“This significant investment of more than 400 million euros that we announce today is a game changer for Cork and positions the city for great growth in the coming decades.

“It’s about making the City and County of Cork even better places to work, live, visit and invest. The € 353 million Cork City Docklands Project investment will transform recreational, residential and commercial areas and prepare port areas for meaningful monitoring of private sector development.

“It provides funding for the new Marina Park, provides funding for bike paths, walkways and the Eastern Gateway Bridge, which will further enhance connectivity.

“The investment will transform the Grand Parade with more than 50 million euros for a new public library, a new central square and a promenade to facilitate cultural and recreational activities, making it one of the most attractive features of the center of our city.

“It supports the strategy of creating strong regional cities outside of Dublin, with significant funding also for the regeneration of downtown Mallow, Passage West, Ringaskiddy and the Carrigaline Harbor Cluster.”

Cork Mayor Cllr Joe Kavanagh said the potential of Cork Docks has long been recognized, but today we say that ambition will finally be backed by solid investment.

“The regeneration of Cork City’s Docklands will provide jobs and homes for tens of thousands of people and make Cork a world-class city to live and work in, supporting the government’s ambition to develop the city as a true counterweight to Dublin It is encouraging that you see further regeneration in the heart of the medieval city, alongside the ancient city walls in the Grand Parade Quarter.

“We will not only move forward with plans to develop a library that can facilitate up to one million visits, but we will also experience the opening of Bishop Lucey Park to the wider city as part of its redesign.”

Cork City Council Executive Director Ann Doherty described Cork City Docklands as the largest regeneration project in this country.

“Here we are creating a new neighborhood that is built for the future: a place where people want to live, work and play, due to its job opportunities, community, green spaces and reliable public transportation.

“Today’s government funding announcement will also provide more certainty to the private sector that is showing great confidence in Cork City Docklands. To realize our vision, Cork City Council will work with a variety of partners to provide services such as schools, healthcare services, community and cultural facilities “.

Senator Jerry Buttimer welcomed the announcement of URDF’s second round of funding.

Cork raised € 14.36 million in the first round of funding announced in November 2018. It was spent on projects in Mallow, Carrigtwohill, Carrigaline, Cobh and Midleton, as well as in the city.

“This new investment will unlock the potential of our urban areas, making the best use of the land available, promoting sensible development and compact growth, and ensuring that our urban communities are attractive and vibrant places to live, work and visit.” said Mr. Buttimer said.

“URDF’s support for our communities is more vital than ever with the growth of remote and blended work, which means more time at home locally, less time commuting and a boost for local businesses.”



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