Contracts signed for design and construction of €80 million development in Limerick

CONTRACTS have been signed for the design and construction of a multi-million euro development at the Opera Site in the heart of the city centre.  

Limerick Twenty Thirty has also announced details of a €80m joint venture which will boost the development of the Opera Square site-wide basement and the six storey One Opera Square office building.

Located at the corner of Michael Street and Ellen Street, the project is Ireland’s largest scale development site and works are scheduled be completed by 2025.

Details of the joint venture, which involves Limerick Twenty Thirty and the Ireland Strategic Investment Fund (ISIF) means that the One Opera Square project have been confirmed by the Minister for Housing, Darragh O'Brien, who is on a visit to Limerick this Monday.

The 3.7 acre site will be transformed into a daytime employment hub, as well as offering 450,000 square feet of accommodation to the people of Limerick.

Commenting, Minister O’Brien said: “Opera Square will be a transformative development for Limerick, and I’m delighted the Government has been able to support Limerick Twenty Thirty in bringing it to fruition. The regeneration and rejuvenation of our towns and cities is a key part of this government’s vision.

“We are tackling vacancy and dereliction, and will continue to fund important regeneration projects in the country.” 

Separately to the funding announcement, Limerick Twenty Thirty has confirmed the appointment of John Sisk and Son for
the design and construction of the circa 10,000sqm Opera Square site-wide basement and six storey One Opera Square office building. 

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Chairman of Limerick Twenty Thirty, Conn Murray, commented: “One Opera Square is going to be one of the landmark buildings in this emerging new Limerick city centre and will deliver huge economic benefit for the city and region, with capacity for up to 1,000 employees.

“Having a trusted partner like the Ireland Strategic Investment Fund on board to enable its delivery is a major vote of confidence in the wider project and Limerick’s growth potential.”

The European Investment Bank, the Council of Europe Development Bank and now ISIF are the main sources of funding for the Limerick project.

Mayor of the City and County of Limerick, Cllr Francis Foley welcomed this Monday's announcement: “This is a hugely significant moment for the wider Opera Square development, Limerick and, indeed, the Mid-West region. This is the moment when we can finally say that, two decades after the redevelopment of this site was first mooted by the private sector, building is now finally underway. One Opera Square is one of the flagship projects in the Opera Square programme which, together with other private and public investments already underway in Limerick, is going to transform our city centre, setting it on a new course that will make it one of the most competitive and attractive locations in Europe to live, work and play in.”

Nick Ashmore, Director of ISIF,  added: “This is an important step forward in our €500m investment programme to unlock the economic potential of Ireland’s five regional cities. We are delighted to show our backing for Limerick and the wider mid-west region with our biggest single investment to date from this programme.  Our investment is about making Limerick an even better place for employers to create more jobs and making it an even more attractive place for people to work. Limerick has so much going for it and ISIF looks forward to backing more investments in the city and the region over the coming years.”