Question marks hover over some proposed developments
FEARS are mounting that unfinished and derelict city centre sites will, if acquired by NAMA, be subject to a further planning permission period of five years-and that some proposed developments might never go ahead.
And doubts have again been cast on plans for the Opera Centre development, with concern expressed that it might be heading for oblivion.
Cllr Joe Leddin said that while planning permission for some sites is now almost up, NAMA could reapply for a further five year period, if they were to come under their wing.
“NAMA officials can ride into town and ignore the new regional planning guidelines and retail strategy – they will have to maximise the value of the sites but at what cost to the local economy – they could plough ahead with out of town retail development and be oblivious to city development. I’m very concerned about this and am going to get on to all of the residents and business groups throughout the city to mount concern on this issue”.
Referring to prominent abandoned city centre sites, he said that the council’s Head of Finance, Pat Murnane, is considering his proposal that they consult with the consortium behind the Opera Centre development to let out the ground floor units on Patrick Street, Rutland Street, Michael Street, Ellen Street etc rate-free, to start-up businesses.
“At least, this would prevent further dereliction and make that prominent part of the city more pleasing to the eye”.
Referring to the abandoned former Post Office site on Henry Street, and the Parkway Valley site which “has already gone to NAMA,” he said that at 75 per cent completion, the Post Office site has no potential for a return on investment at the moment and “if it ends up with NAMA, we could be looking at nothing happening for another five years”.
The councillor’s concern is shared by Cllr Pat Kennedy, who told the city manager and council officials that the chief financial adviser to the Minister for Finance, the Limerick born, Dr Alan Ahearne, should be invited to explain the impact that NAMA will have on the regional retail strategy being drawn up by Limerick City, County and Clare councils.
“What, for instance, is the current status of plans for the development of Carey’s Road, Edward Street, etc – we want a good mixed development with retail for Carey’s Road – not too much housing in an area so close to the city.”
At a meeting of the city council, Cllr Kennedy said: “Dr Ahearne should come here to answer questions regarding the operation of NAMA – I understand he is addressing the Chamber of Commerce annual dinner shortly – maybe we could request that he use that visit to also take up our invitation.”
