€2 billion Urban Regeneration and Development FundPosted July 5th, 2018
On Thursday I announced details of a €2 billion Urban Regeneration and Development Fund. As a key part of Project Ireland 2040 – the Government’s National Planning Framework and National Development Plan – the fund is intended to drive regeneration and rejuvenation of strategic and underutilised areas within Ireland’s five cities, key regional drivers and other large towns.
The fund is one of four such funds established under the National Development Plan 2018-2027 and the Department of Housing, Planning and Local Government (DHPLG) has responsibility for implementing the fund, which has €100m available for expenditure in 2019 and an overall allocation of €550 million allocated to the fund up to the end of 2022.
This fund is about backing better and more coordinated planning for future generations in a way that meets the needs of our growing population and economy more sustainably, by re-imagining and turning around the all-too-frequent sight of empty or run-down or poorly utilised areas in the centres of our cities and larger towns. With this fund, we can now choose a better way to live and work and enjoy leisure time and go for real quality of life and make quality places rather than creating more commuting and urban sprawl.
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To watch a short video about the fund, go here.