• Company behind North Quays issues assurance
• But planning yet to be submitted to local authority
Eoghan Dalton Reports
The company behind the redevelopment of the North Quays has rowed back on comments made by its director, in which he said it would withdraw from the development if Government funding is not delivered. It comes as concern mounts that the planning application for the €350m development has yet to be submitted to the local authority by Falcon Real Estate Development.
Earlier this year, director Rob Cass said the Saudi-backed company would back away from the development by November if funding for crucial infrastructure was not provided by the Government. This relates to the proposal to relocate Plunkett Station so that it will sit centrally in the new development on the Quay as part of a transport hub – but at a cost of up to €35m.
When asked by the Munster Express if its director’s comments still stand, a spokeswoman said it maintains that the development has the potential to reverse the region’s economic problems and concluded: “Falcon Real Estate Development remains fully committed to the project.”
Mr Cass declined to issue a personal comment and directed this newspaper towards Falcon’s PR firm.
The restated commitment came on the back of a visit to the city by Minister for Finance Paschal Donohoe who was presented with a case for the station’s relocation, during which Cllr Eddie Mulligan (FF) told the Minister that there was a “real danger” that Falcon Real Estate could withdraw if funding isn’t assured.
Talks are ongoing between stakeholders, with an extension of the railway tracks down towards the Quays so far not proving acceptable to Falcon Real Estate. Meanwhile, a senior planning official has said that several aspects of the development are “on hold” until Waterford receives certainty around funding. Falcon Real Estate Development said that the company is still preparing its application for planning permission but refrained from providing a timeline for when it may be submitted.
‘Fully committed’
