Cabinet to consider €500m DIT plan
Published 30/03/2010 | 05:00
PLANS for a €500m college development -- the biggest educational project for decades -- will go before the Cabinet shortly, the Irish Independent has learned.
Former Education Minister Batt O'Keeffe recently finalised a memo seeking Government approval for transferring the Dublin Institute of Technology (DIT) to the north inner city Grangegorman site.
Education sources described the development as a 'flagship' project and said they expected the new Minister for Education and Skills, Mary Coughlan, to continue with it.
The overall cost of providing DIT core educational facilities on the Grangegorman site is estimated at €493m.
It is intended that 60pc of this will be provided by DIT from disposal of property, such as its buildings in Kevin Street, Bolton Street and Cathal Brugha Street, savings, philanthropy through the DIT Foundation and the DIT Student Development Fund.
The remaining 40pc would come from state funding, through grants and public-private partnership credits.
The Grangegorman Development Agency, a statutory body since 2006, has already spent €14m on a masterplan.
As well as a new campus for DIT's 22,000 students and 2,000 staff, the plan provides for new healthcare facilities, a primary school, public library, arts and recreational areas for community use.
The plan, if it gets the green light, would see the creation of 450 full-time construction jobs a year over a 10-year period and a further 1,161 full-time jobs on completion.