Lindat Ltd, the owners of Galway Shopping Center, is confident that they will be able to secure funding for their renovation of the center.
They stated that the progress of the project was hampered by the global economic recession.
The company, part of Pat Doherty Harcourt Developments, is seeking an additional five years to complete the residential and 53400m² retail project. In hand planning permission is set for expiration at the end of February.
Lindat’s consultants have stated that the initial application was passed early during 2010 when the economic crisis was at its height. The positive economic signs that now prevail has given them confidence that they will be able to obtain funding and an extension to complete the project is feasible.
The development will take place over four blocks around a new public street, consisting of six to eight storey buildings. This will include:
A total of 84 apartments, including eight three-bed, 75 two-bed and 15 one-bed, along with private and public amenity facilities
Four anchor units, including Tesco, Penneys and Marks & Spencer
Smaller retail units totaling 90 within an internal center, along with eating establishments
A theatre, music center and municipal art gallery
In excess of 1450 parking spaces will be available, with a dedicated bus lane and pedestrian footpaths.
Harcourt Developments is one of the largest property companies in the country and carries debts of about €800m.