‘A major setback’ is how a Waterford TD is describing the news that Falcon Real Estate will not be building the North Quays development in Ferrybank.
Waterford County Council have announced that they are not extending their contract with the developer.
Falcon’s CEO Rob Cass told KCLR last week that he would be submitting proof the funding was ready to move forward with the project.
But Waterford, who are the main local authority for the plans, says they didn’t get satisfactory evidence and will not be signing contracts with the investment fund for the next stage.
They say the development will go ahead but they’ll have to look for different partners.
Sinn Fein TD David Cullinane says it’s undoubtedly a big blow but he thinks the project will go head.