An estimated 5,700 new jobs are due to be created in the relocation of Dublin Institute of Technology to Grangegorman.
There will be 4,500 new jobs created in the building of facilities on the site of the former St Brendans Hospital, in Dublin’s north-west inner city. The construction of the first phase of development is due to start in 2015.
A further 1,184 permanent jobs will also be created on the campus with the majority of these new positions related to a new science and technology park DIT hopes will be a ‘business and research space’ for industry. The project plans to build new healthcare and school facilities to accommodate up to 20,000 students.
DIT currently has 20,000 full-time and part-time students studying in 39 separate sites across the city centre. They plan to move 10,000 students to the new campus by 2017.
The European Investment Bank will advance €110 million for the initial phase of construction of the new campus. The other half of the cost for the campus will come from private investors as part of a Public Private Partnership scheme.
DIT aims to finance some of the costs of the new campus with the sale of three buildings which are currently used by 1,000 DIT students on Denmark Street, Mount Street and Bride Street.
The most substantial income from the sale of DIT’s old property will come from buildings in Cathal Brugha Street and Kevin Street which are expected to sell for over €50 million.
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