Sunday, 1 February 2009

Port landowners plan 'second IFSC' for post-recession Dublin

Plans for a new IFSC, dubbed East Village, have been drawn up by state-backed and private landholders in and around Dublin Port once the economic climate improves.

Dublin Port, CIE, Matt Gallagher's Earlsfort, landowner Paddy Oman and Bennett Construction are amongst a consortium of landowners who have drawn up plans for the development of a 160-acre site stretching from the East Link bridge to East Point business park near Fairview.

A draft report on the proposal, marked private and confidential, says that the scheme would take more than 10 years to construct. An economic impact report by DKM says the completed scheme could result in 60,000 jobs generating an annual wage bill of €3.4bn.

The most ambitious part of the plan involves part of the port being put into a giant 93-acre two-storey basement with capacity for more than 2,700 trucks. A two-level bridge would be built across the Liffey to take the port traffic off the East Link.

On top of the basement, various commercial and residential buildings would be constructed.

The backers of the scheme have already held preliminary talks with Dublin City Council (DCC) about including its land in the proposal. Bennett and Oman own more than nine acres in the planned development, Dublin Port owns 80 acres, Earlsfort and others own 39 acres, CIE and Irish Rail own 15 acres and DCC owns 17.8 acres.

Three separate areas would be created as part of the scheme, which has also been dubbed International Quarter.

The first area would be known as Point Peninsula and comprises land closest to the East Link toll bridge. It would have medium- to high-density mixed-use development, with an aquarium and a science museum as its centrepiece. The Liffey boardwalk would be extended to the area and a 10,000-seat arena constructed.

The second area would be around Alexandra docks, where the consortium wants to create a high-density high-rise commercial and financial district, while the third area would be known as East Point Village and have larger areas of green space.

The landowners have already requested the extension of special planning powers to the area.

Sunday Tribune

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