A planning application is expected to be lodged in the next two months for the largest-ever single development in Cork city.
Permission will be sought for a major project on a 12.15-hectare (30-acre) site as part of the planned €2 billion development of the city's south docklands.
According to the Cork city manager, Joe Gavin, the joint venture project involving Howard Holdings and Tedcastles will see the development of some 213,700 sq m (2.3 million sq ft) of office, retail and residential space, along with a 200-bedroom hotel, on a site near Páirc Uí Chaoimh.
Mr Gavin said: "They have come together in a joint venture and have a target date of lodging a planning application for development by July . . . They plan to commence construction once planning permission is secured."
He said that the development of the south docklands would require the construction of two new bridges across the River Lee. These would be funded through a combination of public and private-sector finance, but would not be tolled.
The local area plan for the south docklands, which is to be published next month, will specify the types of bridges and other infrastructure needed to facilitate the development of the docklands, which is expected to become home to 20,000 residents and provide 25,000 jobs.
"One bridge will be at Water Street and the second at the Skew Bridge connecting the docklands to Lower Glanmire Road.
We have taken a policy decision that both bridges will be opening bridges to ensure that maritime access to the heart of the city continues," Mr Gavin said during a briefing to Cork Chamber of Commerce.
"Future maritime traffic, as the main port activities relocate, may be leisure-related, but it is considered important that the harbour, which adds so much to the heritage and character of Cork, is maintained intact."
While there was a need to provide major infrastructure to service the regeneration of the docklands, large sections of the area, such as the former timber yard at Water Street, were ready for immediate development, as they were already fully-serviced with infrastructure, the city manager said.
Mr Gavin pointed out that the Docklands Development Strategy commissioned by Cork City Council had identified potential for over 650,000 sq m of non-residential development and 10,000 units of residential development on a 162-hectare site, including 4km of waterfront.
The council also had plans to develop some 22 acres at the Showgrounds on the eastern end of the south docklands into a park to be called Marina Park, Mr Gavin said
