The North Quays will open in 18 months – if Waterford council can find an extra €18 million

At a recent plenary meeting of Waterford City and County Council (WCCC), Seán Dobson, a senior engineer for the council gave a presentation outlining some recent updates on the North Quays development.

Mr Dobson explained that the forecasted cost of the entire project was currently €232.8 million with only €214.1 of that currently secured, leaving a shortfall of just over €18 million.

In 2022, €207.4 million of funding was approved by the government and since then, it has secured €6.7 in additional funding from the Department of Transport for the extended scope of the flood defense works.

Mr Dobson reminded the council that this was the cost of the project only and “didn’t include any income sources on the project.” He did not outline what those income sources might be.

He went on to explain all spending is accounted for in accordance with public expenditure code.

According to Mr Dobson, WCCC has contributed €40 million to the project.

Several councillors asked where that extra funding would come from.

Councillor Adam Wyse first acknowledged the hard work carried out on the project. He said: “I know a lot of people in Waterford have been frustrated with how long this has been going on but when you see the amount of work that has to go in just to get the train station open, its truly amazing what we’re capable of.”

He continued: “The €18 million gap you mentioned in the expenditure, have we had any discussions on how we’re going to fill that gap?” CEO of the council Seán McKeown referred to the situation as a “funding shortfall”and told the council that he has had “positive discussions” in relation to securing extra funding.

He explained: “We’re focusing on the flood defense works and the southerly entrance to the transport hub.”

He reassured the council, “We believe we will secure additional funding.” Mr Dobson also updated the council on when Waterford can expect to use the new sustainable bridge and transport bridge. He said it would likely be operational by “late next year”; however, the entirety of the North Quays development, including office spaces, a 110-room hotel and over 300 apartments, will not be completed until at least 2030.

Work on the North Quays development began in 2018.

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