Major Government Funding and Policy Measures Required to Deliver
Speaking today, Paula Cogan, Cork Chamber President said, “The decision taken by Cork City Council and the Land Development Agency to establish a Cork City Docklands Delivery Office, to accelerate the redevelopment of some 146 hectares of Cork’s prime waterfront location is essential to delivery."
"However, significant Government funding must now be allocated via the Urban Regeneration and Development Fund (URDF) to enable sustainable development of these brownfield sites. With appropriate support the area will deliver homes, schools, medical and social services, sports, office, hospitality, retail, two new bridges and green recreational space. If compact urban growth cannot be delivered in Cork, the City region will be resigned exclusively to a low density commuter model, and Ireland 2040 will be significantly undermined.”
Chamber CEO Conor Healy said, “Without significant policy change in parallel to enable apartment viability, delivery will remain significantly challenged. Research conducted by Cork Chamber, CIF and EY-DKM has shown that the cost of constructing new apartments threatens to undermine Cork’s ambitious growth plans. Government must urgently address the viability gap if we are to deliver compact urban growth in Cork. Apartment cost must reflect the reality of salaries to meet the growing demand for city centre living. Measures such as a more targeted Help to Buy scheme, shared equity and tax changes must be set in play if we are to move from aspiration to reality."
"Ireland 2040 projects the Cork metropolitan area’s workforce will grow by 65,000 by 2031 and the regeneration of our docklands will be an important step in facilitating those growth plans. It is essential that Cork grows sustainably, delivering the infrastructure and urban living spaces that will maintain Cork’s international attractiveness. Access to green spaces, sustainable transport, childcare and equality, all recently ranked as essential elements of our research on ensuring a sustainable vision for Cork.”