Arnotts today unveiled plans for a €700 million development based around its department store in Dublin's north city centre.
The development, known as the Northern Quarter, will turn the area bounded by O'Connell Street, Abbey Street, Henry Street and Liffey Street into a new shopping and entertainment area.
An artist's impression of the aerial view of the proposed development
The main aim of the proposal is to recreate Prince's Street as a pedestrian thoroughfare connecting O'Connell Street to Henry Street with a public square at the heart of the development.
Williams Lane will be repositioned, and a second lane will be added from the square to create a new north-south pedestrian route from Henry Street to Middle Abbey Street.
The scheme will feature 47 new shops, 189 apartments, a 152-bed four-star hotel and 17 new cafes, restaurants and bars. Underground parking for over 700 vehicles with access via ramps on O'Connell Street has also been proposed.
Subject to planning permission the development is expected to be completed by 2010.
"The Northern Quarter will write the next chapter in the evolving history of Dublin City, retaining the charm of an open street environment but overlaying it with the dynamism and diversity of a modern European capital," executive chairman of Arnotts Richard Nesbitt said at the launch in Dublin today.
Mr Nesbitt said that the company would provide 80 per cent of the funding but that they are seeking strategic partners for the remainder.
Arnotts will apply to Dublin City Council for planning permission this week.
