Agreement reached for purchase of land at former Waterford Crystal site by SETU

The purchase of 20 acres of land at the former Waterford Crystal site by South East Technological University (SETU) has been confirmed. 

Minister for Further and Higher Education, Research, Innovation and Science, Simon Harris TD announced today that agreement has been secured for SETU to purchase 20 acres of the former Waterford Crystal site.

This milestone announcement will see SETU expand its footprint in Waterford while furthering the vision to create a University-Enterprise Quarter for the city and region.

Speaking this morning, Minister Harris said: "This is a major moment in the development of SETU. The purchase of the site will allow SETU expand and grow, and crucially embed in the city of Waterford. 

"We know the history of this site. Once a bustling site of business and tourism, the site has been largely derelict since the closure of Waterford Crystal over 14 years ago.

"Today is a new dawn for this site. Here SETU will grow and this site will once again become a bustling site for students, research, enterprise and for the people of Waterford through creation of an active and dynamic University-Enterprise Quarter."

”Prof Veronica Campbell, SETU President warmly welcomed today’s funding announcement saying, “I would like to thank Minister Harris and the Higher Education Authority for their support of our collective vision and for providing the first phase of funding to allow that vision become a reality.

“Our work to realise a University-Enterprise Quarter on the Waterford Crystal site will begin now in earnest and we look forward to developing this vision with all of our stakeholders and regional partners.

"As a university embedded in our region our ambition is to bring together academia, research, industry and our communities to create a hub of knowledge, learning, enterprise, innovation and creativity."

Over the next two years, SETU will further develop the vision for the University-Enterprise Quarter, engage with stakeholders and the wider community, undertake design and apply for planning, all aligned with the strategic planning process of the University.

The former Waterford Crystal site extends to 37 acres and is located directly adjacent to the SETU Campus in Waterford. The acquisition of circa 20 acres for SETU on the site represents a significant opportunity for the future growth of the University, Waterford and the wider region.

Waterford Fine Gael Senator John Cummins has warmly welcomed the confirmation by his party colleague Minister Harris that an agreement has been reached between SETU and the vendor for the purchase of a significant portion of the former Waterford Crystal site on the Cork Road.

Senator Cummins said: “I am absolutely delighted that an agreement has been reached on the purchase of 20 acres of the former Waterford Crystal site. Sanction was received last October from the Department of Public Expenditure & Reform to enable SETU to proceed to final negotiations within certain parameters and that process has now concluded with a positive result achieved which all parties are satisfied with”.

A great deal of work had gone into this project at the front end of the process in terms of dialogue, negotiation and rigorous valuation processes undertaken by both the former WIT and the Higher Education Authority. As predicted, that banked work has resulted in an agreement which all sides are satisfied with, Senator Cummins noted.

“I would like to thank Mr. Frisby for his willingness to engage in the process and reach agreement with SETU for the benefit of Waterford and the entire region. I know that SETU President Veronica Campbell, Mr. Frisby and the Irish Strategic Investment Fund have very ambitious plans for a University Innovation & Enterprise Quarter which they are all looking forward to bringing to fruition. The fact that a portion of the site will remain in private ownership gives the flexibility to be able to deliver building solutions in a way that may not be possible on state-owned land and this could prove very useful in creating that mix of industry, education and research," Senator Cummins said. .

Senator Cummins concluded by saying “I have said it time and again, those that dismiss the importance of this acquisition are completely missing the importance of this site from both a practical and symbolic perspective. Not only will it future proof the growth of the new university in Waterford City, but it will also provide an enormous boost to the people of Waterford to know that a site which once employed thousands of people will be repurposed to educate and accommodate the next generation of workers and industry.