Belfast Waterside development gets the green light, and it could create over 8,000 new jobs

Belfast City Council has given the go-ahead to the massive Belfast Waterside project, which has the potential to create over 8,000 new jobs and provide 1,500 new homes.

The Belfast Watersite development project will be located on the site of the former Sirocco Works, which has been empty and disused for years. The area is ideal for office and residential development as it borders the east bank of the river Lagan, overlooking a scenic view of Belfast.

The scheme will transform the area with a mix of offices, apartments, retail units, space for hospitality and professional service companies, community space, leisure facilities, and even a hotel. It's an ambitious plan to create an entire new community but is certain to make a great deal of money thanks to the quality of the location and Belfast's already burgeoning office investment market.

Around 875 full-time jobs will be created during the construction phase of the project, and when it's done the creators estimate that it will support a total of 8,295 full-time equivalent jobs. Around two thirds of those jobs will be directly on-site, while a third are attributed to new jobs created as part of the supply chain. When complete, the redeveloped area will boast almost 80,000sqm of high-grade office space.

In order to get approval, the developer agreed to some pretty nice bonuses for local people. Around 20% of the residential units have been designated as affordable housing units, with 10% social housing. The developer will also be delivering an employability and skills scheme to skill up local residents so that they're qualified for the jobs the area will create. Finally, a "creative cluster" hub building will be built in a public square facing the River Lagan, providing space for community and arts projects.

Chair of the Planning Committee Councillor Arder Carson said "This is a massive step forward for Belfast, with the potential to create almost 20% of the jobs pledged through the Belfast Agenda, our community plan, as well as providing new space for city centre living, another of our key goals. “The provision of additional high quality office space in a brand new part of the city centre will be hugely attractive to investors as Belfast continues to grow in stature internationally as a great place to do business."

Source: Written based on press release