Taoiseach Micheál Martin TD and Minister for Housing, Local Government and Heritage James Browne TD will today visit two housing schemes at Ireland’s largest urban regeneration project, Cork Docklands, to see progress on more than 600 new affordable homes being delivered by the Land Development Agency (LDA).
They will be joined by Lord Mayor of Cork, Dan Boyle, Chief Executive of Cork City Council, Valerie O’Sullivan and Chief Executive of the LDA, John Coleman.
This is the first time the Taoiseach has officially visited either site, both of which form part of the wider strategy to transform Cork Docklands into a thriving, sustainable city district with new homes, jobs, services and transport connections.
The projects involve a total of 639 new homes. They are being delivered at Marina Depot and at Horgan’s Quay under the LDA’s Project Tosaigh scheme in which the Agency partners with private homebuilders, providing the financial stimulus required to initiate construction and complete new housing projects. The State, through the LDA, will own and operate the new homes as affordable housing targeted at middle income households.
Marina Depot is located on the former Ford Distribution site in Cork’s South Docks. Working in partnership with Glenveagh Properties, the LDA has secured the delivery of 337 new homes including 260 cost rental and 77 social apartments.
The homes have kick-started a wider Glenveagh development which will deliver 1,178 apartments at the site. Construction is progressing well, with piling complete, ground floor slabs poured, and structural work underway. The homes are scheduled for completion during 2027.
At Horgan’s Quay, adjacent to Kent Station, the LDA is working with HQ Developments to deliver 302 new cost rental apartments.
Previously stalled due to viability constraints, this project was made possible by the LDA’s support through Project Tosaigh. The scheme forms part of a €160m mixed-use development and is expected to deliver its first homes by the second half of 2026. Cork Docklands comprises147 Ha (360 acres), spanning both north and south of the River Lee and is the biggest regeneration site in the state. The Docklands developments advance Cork city’s potential to deliver city living at its best, providing a prime location to live and work where all amenities and services are easily accessible and car dependency is greatly reduced.
The Docklands is central to Cork’s long-term growth, supporting sustainable living and economic investment. Developments like Marina Depot and Horgan’s Quay represent another major milestone in the ongoing regeneration of this unique riverside location in the heart of Cork City.
Lord Mayor of Cork, Cllr. Dan Boyle said:
“The transformation of Cork’s Docklands is pivotal to our city's evolution with capacity to deliver homes for 25,000 people at a riverside location where 75% of journeys can be made by public transport, bus or car.
Developments like Marina Depot and Horgan’s Quay are laying the foundation for the creation of an inclusive and vibrant new community on the doorstep of the 70 acre Marina Park. I’m delighted that the LDA has stepped in to ensure the delivery of much-needed affordable and social homes.”
Taoiseach Micheál Martin TD said:
“Cork Docklands is one of the most exciting urban regeneration projects in the country. Both of these developments are delivering homes people can afford in the heart of the city. It is clear evidence of what can be achieved when the State partners with and supports the private sector to meet our housing challenges head-on."
Minister for Housing James Browne TD said:
“These developments at Marina Depot and Horgan’s Quay demonstrate the Government’s commitment to using every lever at our disposal to deliver affordable homes. Project Tosaigh is unlocking stalled developments and bringing them into public use, ensuring homes are built where they’re needed most.”
Valerie O’Sullivan, Chief Executive of Cork City Council, said:
“Sustainable residential development such as Horgan’s Quay and Marina Depot will bring the vision for Cork Docklands to life. With the allocation of €357.6m in URDF funding, Cork City Council will provide more worldclass amenities like Marina Park and the upgraded Marina Promenade to support future communities and enable continued investment in Ireland’s Second City. We are working with national stakeholders to progress the necessary public transport, community, education and healthcare infrastructure required to ensure the Docklands is a success”.
John Coleman, Chief Executive of the LDA, said:
“Marina Depot and Horgan’s Quay are perfect examples of how the LDA can partner with the private sector to accelerate housing delivery, deliver affordable homes and support vibrant communities in our cities. Cork is a key focus for the LDA and these two projects represent a combined delivery of over 600 cost rental and social homes. We’re proud to play our part in shaping the next chapter for Cork Docklands and ensuring this strategic area delivers for the people of the city."
Stephen Garvey, Chief Executive of Glenveagh Properties, said:
" Our partnership with the LDA underscores Glenveagh’s commitment to delivering high-quality, energy-efficient homes in vibrant, well-connected locations. We’re proud to be part of this regeneration story and to play our role in delivering high-quality homes for the people of Cork. Partnering with the LDA to deliver a significant proportion of the total homes at Marina Depot, puts us in a strong position and means we can progress the delivery of other homes at the site more quickly."
Both Marina Depot and Horgan’s Quay form part of a growing pipeline of LDA activity in Cork. Other projects include 267 homes currently under construction at the former St Kevin’s Hospital site in Shanakiel as well as a planned 348-home development at the former ESB site in Wilton and c.140-home development at Anglesea Terrace. The Agency is also actively exploring opportunities for further housing delivery at strategic sites across the city.
The LDA is the State’s affordable housing delivery body. It is in the process of delivering more than 19,000 homes on State-owned or acquired land and over 8,000 through homebuilder partnerships as part of the Government’s Project Tosaigh initiative.
The LDA has two ways of supplying affordable housing. The primary one is the direct delivery of new homes on state-owned or acquired land and the other is through homebuilder partnerships as part of the Government’s Project Tosaigh initiative.
Under the terms of this initiative, the LDA works closely with homebuilders, providing the financial impetus needed to ensure housing projects can commence and be completed.
The homes are then either owned by the LDA and rented to eligible candidates on a cost rental basis or sold to new owners as affordable purchase with the State taking an equity share. The majority of the homes delivered to date through Project Tosaigh have been cost rental and this is expected to remain the case given the effectiveness of this new tenure
The LDA is targeting the delivery of 8,000 homes through Project Tosaigh and about 4,500 of these are either delivered or under construction. The LDA continues to source new housing developments under Project Tosaigh.
Cost rental homes are designed to assist people who do not qualify for social housing, but who cannot afford to rent at existing market rates. Eligible candidates can secure a new home at rents that are at least 25% below market rates.
The rents charged cover the cost of building, managing and maintaining the homes, which are then ultimately owned by the State.
To qualify for cost rental accommodation candidates must meet a series of eligibility criteria.
Cork Docklands is Ireland’s largest regeneration project and comprises147 Ha (360 acres), spanning both north and south of the River Lee. Cork Docklands will be a location where all required amenities and services are easily accessible and car dependency is greatly reduced.
Cork City Council has been allocated €356.7m from the Urban Regeneration and Development Fund (URDF) to deliver the required enabling infrastructure to unlock the Docklands. The proposed suite of interventions, which include transport, flood protection, public realm, community and sports infrastructure projects will transform the Docklands from an underutilised area of Cork City to a place of choice to live and work.
To date, there has been over €500m of private sector investment at Penrose Dock, Horgan’s Quay, Navigation Square and Albert Quay. These projects have transformed the riverside area and already, more than 6,000 people are employed in the docklands. The success of these schemes has proven that Cork City can sustain major development and concentrated investment in this location, which is expected to support up to 25,000 jobs and 10,000 new homes by 2040.
The Cork Docklands Framework plan comprises:
· 9.7 ha quayside amenity
· Homes for 25,000 residents (planning already granted for 3,391 residential units)
· 5.5+ ha sports grounds
· 25,000 potential jobs
· 28.3 ha Marina Park
· 6 new schools