€300M Investment into Waterford City

Deiseen

Waterboy2014 wrote: »

Looks like the demolition work for Michael Street Shopping Centre is moving along nicely. I'm thinking that New Street car park is closing to allow for demolition of that building as well. Also, WCCC are holding a public consultation on the new bridge and consultations on the new road layout and rock stabilisation works finished in late December. Bridge plans are also lodged with ABP... All moving along nicely.

However, I find it worrying that plans for NQs have now been delayed until May 2019, 5 months later than initially thought. Time will tell but that part of it is moving quite slowly. Is this delay in response to the Gov't and their pitiful investment announcement in November or is it a separate issue?

Where did you hear of the delay?

Waterboy2014

Deiseen wrote: »

Where did you hear of the delay?

Last week's Munster Express

TheQuietFella

Waterboy2014 wrote: »

However, I find it worrying that plans for NQs have now been delayed until May 2019, 5 months later than initially thought. Time will tell but that part of it is moving quite slowly. Is this delay in response to the Gov't and their pitiful investment announcement in November or is it a separate issue?

Ah well as much as people here don't want to believe it but this little
merry-go-round will keep on turning and turning...…..

Don't believe the hype!

Deiseen

TheQuietFella wrote: »

Ah well as much as people here don't want to believe it but this little
merry-go-round will keep on turning and turning...…..

Don't believe the hype!

Oh you'd just love if it failed, wouldn't you?

TheQuietFella

Deiseen wrote: »

Oh you'd just love if it failed, wouldn't you?

That's been said to me soooooo often now that it's become boring!


To be honest I never saw it happening or believed that anyone was serious about investing such a large sum of money in the South East. We or ye are just too far away from where it matters and where it's all happening and that is unfortunately Dublin! With so many companies 'apparently' looking to move from the UK to Dublin before, during or after Brexit it might make more financial sense to bring it here. Follow the money!


I hope though in all sincerity that I'm seriously mistaken but I don't think so!

Wanderer78

TheQuietFella wrote:

To be honest I never saw it happening or believed that anyone was serious about investing such a large sum of money in the South East. We or ye are just too far away from where it matters and where it's all happening and that is unfortunately Dublin! With so many companies 'apparently' looking to move from the UK to Dublin before, during or after Brexit it might make more financial sense to bring it here. Follow the money!

Dublin isn't all what it's cracked up to be, it's slowly becoming a victim of its own success, and this is showing in things such as housing, which will in turn cause businesses to chose other locations around the country to locate. I suspect this project isn't dead in the water, as they can take time to occur, with setbacks in between, it's a win win for all if it occurs, so patience is required.

Harry Palmr

Maybe they can just build the Michael Street Centre to 20 stories

robtri

Wanderer78 wrote: »

Dublin isn't all what it's cracked up to be, it's slowly becoming a victim of its own success, and this is showing in things such as housing, which will in turn cause businesses to chose other locations around the country to locate. I suspect this project isn't dead in the water, as they can take time to occur, with setbacks in between, it's a win win for all if it occurs, so patience is required.

unfortunately that is not the case, Dublin is crippled with housing shortage and costs. Yet only last week facebook a 1000 new jobs, sales force 1500 new jobs and building a new state of the art office block slap in the centre of the city..
As long as people are willing to commute(and they will look at the commuter belts) they will keep adding new jobs

Hopefully NQ will get to see some actions soon and move away from just being talk

hardybuck

robtri wrote: »

unfortunately that is not the case, Dublin is crippled with housing shortage and costs. Yet only last week facebook a 1000 new jobs, sales force 1500 new jobs and building a new state of the art office block slap in the centre of the city..
As long as people are willing to commute(and they will look at the commuter belts) they will keep adding new jobs

Hopefully NQ will get to see some actions soon and move away from just being talk

In the first half of 2018, 60% of all new housing completions took place in Dublin. I think if you added Kildare, Meath and Wicklow in to that, you'd find only a small percentage of new completions shared by the rest of the country.

The price increases in Dublin are growing at the slowest rate in the country, quite a bit behind the likes of Waterford. That's partly because they've had years and years of price increases already when the rest of the country was flat, but it's also largely down to the mortgage lending rules.

What Dublin is now is totally different to what Dublin was like 10 or 15 years ago, it's much more multinational and all those tech companies have brought in a huge volume of people in from all around the world.

It's a bit like what San Francisco is to California - but what happened there was companies eventually started to migrate to cheaper locations which eventually helped the surrounding regions to attract investment.

I would love to see Waterford develop a cluster for something. Maybe it could be food production coming out of Bellview developments. Perhaps it could be IT looking at the Crystal Valley Tech developments, but the city doesn't really have a centre for anything at the moment.

This is spilling off topic though, principally because there is no news emerging from this project.

snotboogie

hardybuck wrote: »

In the first half of 2018, 60% of all new housing completions took place in Dublin. I think if you added Kildare, Meath and Wicklow in to that, you'd find only a small percentage of new completions shared by the rest of the country.

The price increases in Dublin are growing at the slowest rate in the country, quite a bit behind the likes of Waterford. That's partly because they've had years and years of price increases already when the rest of the country was flat, but it's also largely down to the mortgage lending rules.

What Dublin is now is totally different to what Dublin was like 10 or 15 years ago, it's much more multinational and all those tech companies have brought in a huge volume of people in from all around the world.

It's a bit like what San Francisco is to California - but what happened there was companies eventually started to migrate to cheaper locations which eventually helped the surrounding regions to attract investment.

I would love to see Waterford develop a cluster for something. Maybe it could be food production coming out of Bellview developments. Perhaps it could be IT looking at the Crystal Valley Tech developments, but the city doesn't really have a centre for anything at the moment.

This is spilling off topic though, principally because there is no news emerging from this project.

I can't find Q1 but for Q2 and Q3 Dublin was at about 40% of new builds with the rest of the Mid East region at about 20%, so it's 60% for the GDA.

TheQuietFella

https://www.rte.ie/news/business/2019/0130/1026586-barclays/

Just a headline from today's Irish Independent to support my theory!

Wanderer78

TheQuietFella wrote:

Just a headline from today's Irish Independent to support my theory!

Your theory being?

Harry Palmr

Not sure what Brexit and Barclays moving their clients EU business to Dublin has to do with the NQP.

sunnysoutheast

TheQuietFella wrote: »

https://www.rte.ie/news/business/2019/0130/1026586-barclays/

Just a headline from today's Irish Independent to support my theory!

That is a link to the RTE website of course. Is there a point you are trying to make?

Max Powers

sunnysoutheast wrote: »

That is a link to the RTE website of course. Is there a point you are trying to make?

Never a sensible reasonable thought out point, just more nonsensical stuff.

cactus jacks

Update from Rob Cass on Twitter:


https://twitter.com/Robcass78/status/1092687318182477830

Wanderer78

cactus jacks wrote:

Update from Rob Cass on Twitter:

Nothing like a little dig at other ppp projects, while requiring public funding for their own! It comes across as being very unprofessional

Jamie2k9

Wanderer78 wrote: »

Nothing like a little dig at other ppp projects, while requiring public funding for their own! It comes across as being very unprofessional

Not as unprofessional as a 50-60% cost overrun.

Wanderer78

Jamie2k9 wrote:

Not as unprofessional of a 50-60% cost overrun.

Oh I agree, the hospital overruns are not only unprofessional, but actually disturbing, but rob has been clearly berating the political system throughout the process, ppp's are not always a win win for everyone

hardybuck

Agreed. He really needs to get the chip off his shoulder. Easy to throw jabs now but he could easily be on the receiving end of them himself in the future.

Muttley79

Could be another few years before we see this development been built.waterford been left behind as usual while Dublin cork Limerick are building huge developments in their cities.very frustrating

Harry Palmr

How did you work that out?

Gardner

when will there be announcement of who these contractors/consultants are? or is it all hush hush.

SOPHIE THE DOG

Neither the NCH nor The North Quays scheme are PPPs

Wanderer78

SOPHIE THE DOG wrote:

Neither the NCH nor The North Quays scheme are PPPs

The north quays may not fit the definition of a ppp, but when multiple of millions of public money is required for the project to be completed, wouldn't that class it as a public and private venture?

BBM77

Wanderer78 wrote: »

The north quays may not fit the definition of a ppp, but when multiple of millions of public money is required for the project to be completed, wouldn't that class it as a public and private venture?

No, because no public money has been committed to it.

hardybuck

Wanderer78 wrote: »

The north quays may not fit the definition of a ppp, but when multiple of millions of public money is required for the project to be completed, wouldn't that class it as a public and private venture?

A PPP is a joint venture between a public and private company as the name suggests.

Some can be design, build and operate - e.g. some of the waste water projects. Some can be design, build, finance, operate and maintain - e.g. building of bundles of schools. Others can be concession projects, e.g. toll roads.

PPPs are great where the country needs to build a motorway network for example, and you want to spread the capital cost over time, and get the expertise of the big private sector companies who churn out those projects regularly.

This is not a PPP as a private company wants to build commercial and residential space. They need enabling works to make it possible, much in the same way that water infastructure costing €50m will be needed to fund the multi billion investment by Intel into Leixlip.

Harry Palmr

Listen to Deise Today at 10 am. the whole thing is under threat as of now due to lack of central funding.

hardybuck

Harry Palmr wrote: »

Listen to Deise Today at 10 am. the whole thing is under threat as of now due to lack of central funding.

The thing has always been under threat, hence the phases of central funding.

Harry Palmr

I'm not sure I follow your logic there.

Amazing - WLR news at 10 am have already dropped this story, did someone give them duff information?

edit edit - DT just mentioned it at the top in the show.