Another step in the process of South East Technological University taking over part of the old Waterford Crystal site has been taken with approval from the Minister for Further and Higher Education to conclude the purchase.
The deal has been in the pipeline for several months, after Minister Simon Harris gave the go-ahead to SETU in March to buy 20.3 acres of the 37-acre site close to the existing main campus on Waterford city's Cork Road, subject to "necessary due diligence requirements".
Minister Harris said final contracts can now be signed by SETU to complete the purchase.
"This is a major moment for the development of the South East Technological University," he said.
"We know this is an iconic site, which has been derelict for almost 15 years. Today, it becomes part of the SETU footprint in Co Waterford. We know the history of the site but the future is now certain too. The crystal site is no more. This is now another part of the SETU campus."
According to the Department of Further and Higher Education, the purchase of this site satisfies a number of wider local and regional objectives through the reusing/repurposing of a prominent brownfield site in the city and the investment will allow SETU to cater for future student growth, address the current shortfall in space requirements and allow the Technological University to be a driver of economic and social development in Waterford.
Higher Education Authority CEO Dr Alan Wall said: "The purchase of the Waterford Crystal site in Waterford is a significant moment in the history of SETU and a major milestone in the proposed expansion of the Waterford Campus. The HEA and SETU have been working closely to ensure the conclusion of the acquisition of this iconic site."
The next move is the development of a "business case" for the development of the site, by SETU with the help of the HEA.
SETU President Professor Veronica Campbell welcomed the announcement.
"SETU is delighted to secure ministerial approval to move swiftly ahead with the purchase of the former Waterford Crystal site and we look forward to signing contracts within the fortnight."
Local Green Party TD Marc Ó Cathasaigh said the site has been "a totem in many people's eyes, of Waterford's fortunes," and that its dereliction in recent years has been a statement of a different kind.
"I've pushed hard for the acquisition of this site. I've always believed it's the right place for our university to expand. It keeps it at the very heart of the communities I know it's proud to serve - Lismore Park, Larchville, Ballybeg - but it also brings it closer now to the city centre.
"That will strengthen the connection between the students studying in SETU and Waterford city, with both an economic and a cultural benefit to both," Mr Ó Cathasaigh said.
Fine Gael Senator John Cummins also welcomed the announcement, which he said follows months of work.
"I firmly believe this site acquisition future proofs the growth of the new university in Waterford City and that over time it will regenerate a strategically located brownfield site which once employed thousands of people and repurpose it to educate and accommodate the next generation of young workers and industry," he said.
