THE DECISION by An Bord Pleanála yesterday to grant planning permission for a major infrastructural project, including two new bridges to open up Cork docklands, has been welcomed by Cork city manager Joe Gavin.
Mr Gavin expressed confidence that the development would proceed despite the financial difficulties of one of the main developers involved, Howard Holdings.
The High Court this week told gardaí to enter, by force if necessary, the home of the company’s chief executive, Greg Coughlan, in order to arrest him.
Mr Justice Peter Kelly said he was satisfied Mr Coughlan was evading arrest over failure to obey court orders aimed at executing a judgment against him for more than €28 million over unpaid property loans.
Mr Gavin said yesterday the decision by Bord Pleanála to grant planning permission for two swing bridges across the river Lee at Tivoli and Water Street, along with permission for raising road levels in the docklands, was a major milestone in developing the area.
He said the council would need assistance from the Government for the public infrastructure work, and was hopeful of getting that in a reasonable length of time.
He refused to be drawn on what time period he was hoping to receive Government funding in, but said with falling construction costs the total infrastructure investment in the two bridges and road network would be in the region of €100 million to €120 million.
Given the Government’s commitment in the National Spatial Strategy to develop Cork as a gateway city, and the fact that the dockland development met the criteria in terms of being a sustainable project, he believed funding would be made available.
One of the first major projects to be granted planning permission in the docklands was Howard Holdings’ proposal for a €1 billion mixed-use development on an 11-acre site at the eastern end of the docklands near Páirc Uí Chaoimh.
Unveiling details of the plan in March 2008, Mr Coughlan said the project would involve the construction of three plectrum-shaped towers, one of 30 storeys, one of 20 storeys and one of 10 storeys, containing some 575 residential units.
The project, entitled the Atlantic Quarter, would also include 51,000sq m of office space, a 5,300-seat conference centre, a 205-bedroom, four-star hotel, as well as cafes, restaurants, bars and shops.
Mr Coughlan predicted the project would be completed by 2013.
However, Howard Holdings has run into financial difficulties, and this week in the High Court Mr Justice Peter Kelly ordered Mr Coughlan to be brought before the court after he failed to file a statement of assets in relation to a €28 million judgment over unpaid loans.
Yesterday, however, Mr Gavin remained upbeat about the potential of the docklands development, including the Howard Holdings site, saying he was confident work on the docklands would begin in two to three years’ time when the economy had improved.
“The docklands is a very strategic and attractive site with four kilometres of water frontage, and I’ve no doubt but that when the current economic blip is over it will prove very attractive for investors, and I have great confidence in the whole area moving.
“The important thing for us with the Bord Pleanála decision today is that we have now cleared all the planning hurdles and are well positioned to progress the project with developers when the economy improves,” he said.