Exciting €130 million Glassworks project 'will bring the world to Waterford'

A €130 million euro plan has been revealed to transform the former Waterford Crystal manufacturing site into the country’s first co-located university enterprise quarter. 

When complete, the 37-acre ‘Glassworks’ site will feature world-class offices strategically located beside the South East Technological University’s (SETU) academic and research facilities. 

By locating cutting-edge enterprises beside SETU, Glassworks, will act as an engine for high-quality employment, economic growth, research and education in Waterford and the wider south east region.

It is expected, the site will eventually have capacity for up to 6,000 employees. Planning permission has also been granted for a 582-student bed development on adjacent lands.

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It is 16 years since crystal manufacturing ended at the Kilbarry site and those behind the Glassworks development say the project aims to take inspiration from successful international university enterprise quarters such as the University of Nottingham’s Innovation Park and the Cortex innovation district in St Louis, Missouri in the United States.

The site’s revamp will enable businesses and academics to collaborate and innovate in ways not previously possible, and SETU President Professor Veronica Campbell says that Glassworks’ launch is a defining moment for the region and Ireland as a whole.

“Glassworks will play a pivotal role in Ireland’s knowledge economy where students, startups and researchers can collaborate, test ideas and create the next generation of ground-breaking products, technologies and businesses,” she said.

An architect's impression of the proposed University Enterprise Quarter on the site of the former Waterford Crystal factory

The first commercial building is being developed with a €43m investment by a joint venture formed between the Ireland Strategic Investment Fund (ISIF) and Frisby, the Waterford-based developers. 

“The crystal factory brought Waterford to the world and now Glassworks will bring the world to Waterford,” said Frisby director, Noel Frisby Jnr.

“This is a place where research, creativity, and business ambition can thrive, and where our regional economy will continue to grow,” he added.

‘Building One’, the initial 80,000 square foot flagship office building, is expected to open by the end of the year. It will have capacity for 800 employees and will be Waterford’s first purpose-built, BER A3 rated office building that meets LEED Gold and WiredScore Gold standards.  

‘Building One’, the office building of the Glassworks University Enterprise Quarter, is expected to open by the end of the year

“Glassworks will create unique opportunities for both local and international businesses and act as a cornerstone for the south east’s future development,” said Director of ISIF, Nick Ashmore. 

“ISIF’s commitment to Building One is an example of its double bottom line mandate at work, investing on a commercial basis in a manner designed to support economic activity and employment in the State.

“This joint venture, as part of ISIF’s city-specific investment programme, will support investment in Waterford as well as Cork, Galway, Limerick and Kilkenny, in the form of new places to work, to live and enabling investments to support these regions,” he added.

David Ryan, Elaine Sheridan, Ken Thomas, Elaine Greenan and Paul Quirke of SETU at the launch of Glassworks, Ireland’s first co-located university enterprise quarter

Over the coming years, there is potential for the development of further purpose-built buildings to accommodate businesses, researchers and students, all meeting the same stringent sustainability standards as Building One.