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\nMetroLink said the acquisition of the site will make the construction of project easier<\/p>\n
Transport Infrastructure Ireland (TII) has acquired a portion of the Hammerson site on O’Connell Street for the development of MetroLink.<\/p>\n
The site, which spans around 200 metres along O’Connell Street and is approximately two acres in size, was once home to the Carlton Cinema and had formed part of a \u20ac500 million redevelopment plan for the area by the UK-based property group.<\/p>\n
TII said bringing the site into public ownership is a significant step in facilitating the delivery of MetroLink but will also allow it to work with Dublin City Centre Taskforce on a masterplan for the redevelopment of the capital’s main street.<\/p>\n
A station at O’Connell Street is planned as part of the MetroLink project, but it is not clear what impact this development will have on the wider regeneration of the Dublin Central site owned by Hammerson.<\/p>\n
The property group’s plans for the area – which included residential, retail, hospitality, hotel and cultural spaces – had been subject to numerous objections.<\/p>\n
This included objections from the Moore Street Preservation Trust, which has expressed concerns about the impact the redevelopment could have on the 1916 National Monument building at 14-17 Moore Street, where a Rising Commemorative Centre is planned on the state-owned site.<\/p>\n
However, TII Chief Executive Lorcan O’Connor said the acquisition ensures that the O’Connell Street site can be managed in a coordinated way to support MetroLink construction works and future development planning.<\/p>\n
“The acquisition of this important site will allow us to redevelop this important area for the benefit of the Irish people, while also bringing benefits that will make the construction of MetroLink easier,” Mr O’Connor said.<\/p>\n
“With the area now in State ownership, we can work closely with the Dublin Task Force and other government agencies to enable the development and implementation of a master plan so that our main street can be something that we can all be proud of.”<\/p>\n
\nMetroLink said the acquisition of the site will make the construction of project easier<\/p>\n
Hammerson has said that it sold a number of sites in Dublin city, including the O’Connell Street site, for almost \u20ac81 million.<\/p>\n
In a statement this morning, it said it sold non-core assets, including multiple holdings in central Dublin for \u00a369m (\u20ac80.7m) to Transport Infrastructure Ireland to unlock key infrastructure for the city’s planned MetroLink train system.<\/p>\n
Hammerson said it has retained certain holdings in Dublin which provide strategic options across development, partnerships and future value realisation.<\/p>\n
It also said today that it had recently completed the acquisition of the remaining 50% interest in the Ilac Shopping Centre in Henry Street, taking full control of the “landmark” Dublin city centre destination.<\/p>\n
The news of the acquisition comes ahead of an appearance by MetroLink at an Oireachtas committee later today.<\/p>\n
It will tell members that more than \u20ac350m has been spent on the MetroLink project to date and that it has submitted updated costs to government which are expected to be higher than \u20ac7bn-\u20ac12bn outlined five years ago.<\/p>\n
In its opening statement to the Oireachtas Committee on Infrastructure and National Development Plan Delivery, MetroLink will state it expects a decision by the Government on the project in the coming weeks.<\/p>\n
Michael Flynn, Interim Programme Director for the MetroLink, will tell the committee that \u20ac354m has been spent on the MetroLink project to date, including when it was previously known as Metro North.<\/p>\n
\u20ac171m of that spend has been in the past 18 months and MetroLink forecast it will spend a further \u20ac200m by the end of this year.<\/p>\n
According to Mr Flynn, MetroLink has submitted a new business case and costing to the National Transport Authority and Department of Transport because the previous estimated cost of between \u20ac7bn-\u20ac12bn from 2021, which excludes VAT, is now five years old.<\/p>\n
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<\/p>\n
He will say it does not reflect the recent significant construction industry inflation and several new requirements and commitments outlined in the Railway Order that was granted last year.<\/p>\n
As the new cost is to be considered by the Cabinet, Mr Flynn will say that he believes it would not be appropriate to discuss the figure until it has Government sign-off, but they expect a decision by Government in the coming weeks.<\/p>\n
He will tell the Committee that the project is now in the procurement stage with delivery expected to begin next year.<\/p>\n
Selection process<\/p>\n
In the first quarter of this year, MetroLink began the selection process for bidders for the major civil infrastructure contracts which include the alignment preparation, stations and structures, including bridges and tunnels all along the route of MetroLink.<\/p>\n
In the second quarter of this year it released the contract notice for the design and delivery of rail systems, rolling stock, commissioning, depot and park and ride facilities.<\/p>\n
That contract will also deliver the fit-out of all stations including mechanical, electrical and passenger movement systems and integrated operation and maintenance of the MetroLink service.<\/p>\n
MetroLink also launched the procurement for civil engineering and structural works at both Dublin Airport and Glasnevin locations.<\/p>\n
Mr Flynn will also outline the physical scale of the project, saying its impact on the country will be similar to the development of Ireland’s first hydroelectric scheme in Ardnacrusha, in his statement.<\/p>\n
“MetroLink will deliver a 19km, mostly underground, fully automated railway line. Connecting Swords and Dublin Airport directly to the city centre and Charlemont in approximately 25 minutes; its 16 stations will seamlessly integrate with Irish Rail, DART, Luas, and bus services,” the statement reads.<\/p>\n
“With a future peak capacity of up to 20,000 passengers per hour per direction, it will fundamentally transform connectivity, housing growth, and climate action in the Greater Dublin Area, with operations envisaged in the 2030s.<\/p>\n
“It is going to be up there with Ardnacrusha in terms of its impact on the country.”<\/p>\n
The head of the new unit designed to deliver the recommendations of the Dublin City Centre Taskforce said the acquisition is a significant new milestone.<\/p>\n
Head of Dublin City Council’s Project Management Unit Robert Watt said it will help improve O’Connell Street.<\/p>\n
“This development represents an opportunity to diversify the economic profile of the street and immediate environs, to increase the supply of high-quality residential housing on O’Connell Street and critically, build a more vibrant urban environment.”<\/p>\n
He added: “This is the ambitious, sustainable regeneration O\u2019Connell Street needs. Leading the delivery of the Taoiseach\u2019s Taskforce, I look forward to working with our partners in TII to support development that delivers lasting benefits for our communities and help shape a more dynamic city centre for the future.”<\/p>\n","protected":false},"excerpt":{"rendered":"Transport Infrastructure Ireland (TII) has acquired a portion of the Hammerson site on O’Connell Street for the development…\n","protected":false},"author":2,"featured_media":538872,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[42,43,40,38,41,39],"class_list":["post-538871","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-headlines","tag-news","tag-top-news","tag-top-stories","tag-topnews","tag-topstories"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/538871","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=538871"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/538871\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/538872"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=538871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=538871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=538871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}