COONAGH CROSS could be the catalyst for major development on the city’s northside and with the city council using the boundary extension for the benefit of all of the city, the rewards would be substantial. This is the message that Chieftain Construction managing director, Ger O’Rourke imparted to members of the council’s Economic Policy Development Committee when he outlined the benefits to the city coffers of an extended retail area at Coonagh Cross.
Reminding the assembly that he is Limerick born, has development in the city as well as county and others in North America , Johannesburg, Chicago and Liverpool, Mr O’Rourke said the city’s land pool was increased by between 2 and 3,-000 hectares through last year’s boundary extension on the northside.
“Caherdavin will be a major development zone in years to come but currently there is an imbalance in jobs on the northside. We are two -thirds through construction at Coonagh Cross. However, potential tenants want larger scale units and the retail park could become a white elephant unless we have the co-operation of the city on this.
“We have planning permission for a cinema complex but have been told by tenants that they need an anchor store in there”.
Warning that he will take his money elsewhere if a new planning application, still to be submitted to City Hall after he has studied the new Mid West Retail Strategy (to be published later this year), is not given the go-ahead, he said that without a second major anchor store (in addition to Tesco), the development will not proceed.
“The city centre must be protected, we support the Opera Centre and the Arthur’s Quay developments, but there’s a lack of suitable sites, yet Coonagh is now part of the city and the suburbs and given the major imbalance of services on the northside (only 10 per cent of the retail provision), the council should use the boundary extension for the benefit of all of the city”.
Pointing out that the Regeneration Agencies support Coonagh Cross and recognise the 2,000 jobs it will generate initially, Mr O’Rourke said that most local authorities “would open their arms to us.
“However, without the West Mall, this will not work – traders will not move in – if they were to this would benefit a world class cinema”.
He reminded the members that an initial 2,000 jobs and 10million euro annually, would accrue to the local economy, with an annual 1.25million euro in rates and six million in planning contributions going to the city.
He also estimated that other developments on hold in the area have an estimated value of 370million euro, with the potential to create over 3,00 direct and indirect jobs.
