Exciting €130 million Glassworks project 'will bring the world to Waterford'
When complete, the former Waterford Crystal manufacturing site will feature world-class offices strategically located beside the South East Technological University’s academic and research facilities
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.
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.
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 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.
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.