3 days ago
Former Waterford Crystal site in €130m transformation
The former Waterford Crystal manufacturing site is to be transformed to form part of the country's first co-located university enterprise quarter in a €130 million initiative.
The 37-acre 'Glassworks' site is set to feature offices strategically located beside the South East Technological University's (SETU) academic and research facilities.
The positioning of Glassworks, on Waterford's Cork Road beside SETU, is aimed to act as an engine for high-quality employment, economic growth, research and education in Waterford and the wider south east region.
A media briefing at the site today was told it is expected to eventually have capacity for up to 6,000 employees.
Planning permission has also been granted for a 582-student bed development on adjacent lands.
It is 16 years since crystal manufacturing ended at the Kilbarry site and the new development aims to take inspiration from successful international university enterprise quarters such as the University of Nottingham's Innovation Park and the Cortex innovation district in St Louis, Missouri.
SETU President Professor Veronica Campbell says that Glassworks' launch is a defining moment for the region and Ireland as a whole.
"Glassworks will play a pivotal role in Ireland's knowledge economy where students, startups and researchers can collaborate, test ideas and create the next generation of ground-breaking products, technologies and businesses," she said.
The first commercial building is being developed with a €43m investment by a joint venture formed between the Ireland Strategic Investment Fund (ISIF) and Frisby, the Waterford-based developers.
"The crystal factory brought Waterford to the world and now Glassworks will bring the world to Waterford," said Frisby director, Noel Frisby Jnr.
"This is a place where research, creativity, and business ambition can thrive, and where our regional economy will continue to grow."
'Building One', the initial 80,000 sq ft flagship office building, is expected to open by the end of the year. It will have capacity for 800 employees and will be Waterford's first purpose-built, BER A3 rated office building that meets LEED Gold and WiredScore Gold standards.
"Glassworks will create unique opportunities for both local and international businesses and act as a cornerstone for the south east's future development," said Director of ISIF, Nick Ashmore.
"This joint venture, as part of ISIF's city-specific investment programme, will support investment in Waterford as well as Cork, Galway, Limerick and Kilkenny, in the form of new places to work, to live and enabling investments to support these regions."
Its expected that over the coming years, there will be potential for the development of further purpose-built buildings to accommodate businesses, researchers and students.
