Plans approved for £400m regeneration scheme in Belfast, UK
July 18, 2019 – Osborne+Co, a real estate developer and investor, has secured approval for The Waterside Belfast, a £400m masterplan to regenerate the former Sirocco Works site in Belfast, UK.
The plans, approved by the Belfast City Council, will include the transformation of the 16-acre east Belfast site of the city that has lain fallow for nearly 20 years.
Designed by architectural firm Henning Larsen, the masterplan will support the development of office space for nearly 8,000 jobs, about 675 residential apartments, a hotel and serviced apartments space. Of the total homes, 20% will be affordable housing units.
Osborne+Co chairman Chris Kane said: “We are delighted with this approval. We appreciate the effort that went into considering this application from the elected members, as well as, from the planning department who recommended it for approval
“We will continue to proactively engage with the council and other stakeholders, in order to ensure that we are listening to their questions, as well as effectively communicating the enormous benefits The Waterside can bring to Belfast.”
The project will feature a host of new facilities including community, cultural and leisure facilities, such as cafes, bars, gym, restaurants and local retail, as well as proposals to enhance pedestrian and cycle connections across the river. It is expected to create more than 1,000 jobs in the region.
Osborne+Co founding director Conor Osborne said: “The approval of the masterplan is just the beginning and we look forward to continuing the conversation about how The Waterside represents a once in a generation opportunity to enhance Belfast’s status as a world class location to live and work.”
Councillor on Belfast City Council Arder Carson said: “This is a massive step forward for Belfast, with the potential to create almost 20% of the jobs pledged through the Belfast Agenda, our community plan, as well as providing new space for city center living, another of our key goals.”
“I’m also pleased that this project will not only finally transform a site which has been out of use since 1999 but also provide affordable housing units, responding to housing need and ensuring it becomes a place for everyone, with the facilities required to reflect our expected growth in our population by 2035.”