A New York City-based Irish-American firm, Time Square Development, has announced its desire to launch a €1 billion regeneration project designed to catalyze the revitalization of Cork, Ireland‘s docklands. The project includes a major hotel, plus office and leisure facilities.
While the primary focus of the project is on the historic Port of Cork site, related redevelopment could extend into other parts of the docklands, such as Horgan’s Quay.
The docklands have been hailed as the last great undeveloped urban land bank in Ireland. They were earmarked for major residential, retail and leisure regeneration a decade ago.
Time Square owners, brothers Donal and Kevin O’Sullivan, are originally from Ballinskelligs in County Kerry.
They are reportedly in pre-planning talks with the Cork City Council about the Port of Cork site located at the confluence of the north and south channels of the River Lee.
The Port of Cork is the key seaport in the south of Ireland, and is one of only two Irish ports which service the requirements of all six shipping modes: Lift-on Lift-off, Roll-on Roll-off, Liquid Bulk, Dry Bulk, Break Bulk, and Cruise.
The port has made impressive strides in recent decades. Since 2000, the Port of Cork has invested €72 million in improving Port infrastructure and facilities.
Due to its favorable location on the south coast of Ireland and its modern deepwater facilities, the Port of Cork is ideally positioned for additional European trading as well as for yet unexploited direct deep sea shipping services. Well-developed road infrastructure eases the flow of traffic from and to the port.
Photo credits: Port of Cork