LIMERICK’S Cruises Street has made a remarkable resurgence to the point that it is hoped the pedestrianised street will reach full occupancy levels in the near future.
Such is the rising confidence levels in the street, the economic department in Limerick City and County Council is shortly to carry out a “minor face-lift” of the street, which just two years ago had ten vacant units.
This investment was confirmed by Limerick Marketing Company CEO Eoghan Prendergast this week, who said that the aim was to create an “attractive destination retail space in the heart of Limerick city”.
Danish retailer Tiger opened its new unit on Cruises Street this Tuesday, creating ten jobs in the process and reducing to one the number of vacant units on a street hit hard by the economic downturn.
“Cruises Street in the downturn was very much a barometer of what was happening on a wider scale in the city and region and its resurgence now is another indication of a city that is on the up,” said Mr Prendergast.
“At its worst, the street had a 63% occupancy rate and people were understandably starting to question what had gone wrong but the biggest single factor was the economy and people’s curtailed spending on non-essential goods.
“We have seen a gradual recovery in the retail economy locally over the past 12 months, in particular, and this will accelerate over the coming years thanks to jobs coming on stream arising from a series of investment announcements for Limerick over the past 18 months,” he added.
The investment plan for Cruises Street, plan, which is to be rolled out later in spring, will aim to rejuvenate the public space on the pedestrian street, which opened in 1992.
“Our task now is to add to the momentum and achieve full occupancy. We will be putting an investment in place over the coming months to upgrade the look and feel of the public aspect of the street,” said Mr Prendergast.
“The plans for this are being finalised and we will see them taking shape over the coming months and ultimately creating a vibe and feel on Cruises Street that will give shoppers an extra reason to go there savour the great experience of shopping in Limerick,” he added.