€Billion Development Planned For Limerick Waterfront
Plans to develop a €Billion residential and commercial complex on 25 acre site between Barrington's Pier and Shannon Bridge were revealed this week.
The announcement as made by Riverdeep Developments, fronted by businessman Ned Sheedy, at a press conference, which was tended by Cllrs Jim Long, Michael Hourigan and local Actioneer, Pat Kearney.
Mr Sheedy said that the group-which includes three other businessmen, who wish to remain anonymous, plan to build the up-market high-rise apartments and office and retail units on reclaimed land on the river bank.
Any land reclaimed is the property of the Department of the Marine. The group have not yet drawn up plans but say that they are in the very early stages.
"None of the existing land will be affected by this development. We are looking at creating a number of interlinking piers where each block of apartments will stand", said Mr Sheedy.
They met with City Council officials on Wednesday morning to discuss their proposal. Senior Planner Dick Tobin described it as a "pre-planning meeting".
"They are proposing to build on the foreshore which is flooded in high tide. The land in question is owned by the Minister for the Marine. It is quite complicated, the embankments on the site were built by the OPW in the 1960s, and Limerick City Council are the major landowners behind the embankments," said MrTobin.
"There are a number of restrictions on the area under the City Development Plan. Much of the land has been zoned as open space. And starting at EU level, the majority of the proposed area is under conservation"
Mayor of Limerick, Diarmuid Scully, said that he had not yet been briefed on the plans.
"I await them with interest", he said. Mr. Sheedy admitted that there is a lot more work yet to be done.