DUBLIN'S Liberties is in line for a massive student accommodation village and digital hub for start-up technology companies.
The Government has announced that €40m will be poured into the area – one of the biggest investments since the foundation of the Digital Hub in 2001.
The news is a positive boost for the inner city Dublin area, and the next phase of development has already secured planning permission.
Lord Mayor Oisin Quinn and Minister for Communications, Energy and Natural Resources Pat Rabbitte opened the facility in Roe Lane yesterday.
London-based Knightsbridge Student Housing is responsible for setting up the student accommodation facility, including refurbishing a 19th Century grain store building on the Digital Hub campus.
Edel Flynn, chief executive officer of the Digital Hub Development Authority, said: "The Digital Hub is continuing to grow and add value to the wider economy and, as such, we are delighted to be announcing a major property development.
"This will mark an important milestone in the development of the Digital Hub and a substantial investment in the Dublin 8 community.
"It will contribute in a sustained way to the ongoing development of the local economy."
Although the area around the central location is one of the most visited in the country because of its close proximity to the Guinness Storehouse, there are several vacant buildings in the area which the Digital Hub hopes to develop over the next few years.
The facility will be located on 10,650 square metres and is a major office space development.
Ms Flynn said: "This project is a clear indication of confidence returning to the construction industry in Dublin."
The facility is expected to open for the new academic year in September 2016.