The first phase of the £1.5bn Titanic Quarter in Belfast has received the green light from the Department of the Environment.
Phase one of the project at the 185-acre waterfront site includes a 150,000 sq ft ‘Gateway’ office building, some neighbourhood shops and restaurants, 475 new flats and a new road.
Lead by Harcourt Developments, construction work, expected to cost £80m, will begin this autumn after the new road has been built.
The offices will be built on a speculative basis in three connected blocks of six and five storeys.
Conal Harvey, director of operations at Harcourt, expressed confidence that overseas firms would take up the office space.
“We’re actively recruiting in the internationally traded and financial services sectors.
“These people need to see product so we’re building this office space speculatively.
“It’s evidence of our commitment that we are willing to do that.
“You need courage and deep pockets to build speculatively.”
The company has already had 700 applications for apartments and it hopes to include 5,000 flats in the development.
Mike Smith, chief executive of Titanic Quarter Ltd said:
“I am confident these projects and the many which follow will do more than simply change our city’s skyline.
“Titanic Quarter, as a place for business, for leisure and for living, will play a major role in the economic and social future of Belfast and Northern Ireland.”
Titanic Quarter Ltd said the huge project should create at least 20,000 new jobs over the next 15 years.
References: EGi News 26/04/06
