Derry City & Strabane District Council’s planning committee has approved an outline planning application for a new 750-home residential development valued at more than £100 million.
The development at Ballyoan, Londonderry is being brought forward by South Bank Square and will be the largest private housing development in the north west since the property crash.
According to the developer, the new neighbourhood development will create and sustain employment for 90 full time jobs each year, over the course of the 10 year period it is expected to take to complete the project.
The Ballyoan site extends to over 90 acres and is located adjacent to Crescent Link and Clooney Road.
The owner of South Bank Square, Seamus Gillan commented: “This development will bring an enormous investment to the area, which will produce a significant economic benefit for the whole community. In addition to the headline figure of our £100m investment, we expect that up to 1,000 construction jobs will be created during the construction period over the next 10 years.
“Throughout the planning process we have sought to engage meaningfully with the council as well as the local community. As a result, this approval will not only deliver new homes and a great place to live, but will help deliver considerable improvements to the road infrastructure in the area, including at the Caw Roundabout. Overall, we are delighted that the application process has ultimately resulted in a positive outcome for everyone involved.”
The development is South Bank Square’s first major investment in the city. It is understood that a detailed planning application will follow this outline permission in order to enable the commencement of development on site in the first quarter of 2020.
Mr Gillan continued: “By delivering over 750 new homes to the area we will be making a vital contribution to increasing the amount of available housing in the area. The scheme which we are developing will provide a mix of new homes including detached, semi-detached, townhouses, and apartments. In addition to these new homes, our masterplan includes some commercial space, significant play and recreation areas, a linear park and public amenity space. These amenities will help to ensure that this development not only delivers a substantial quantity of homes but also establishes a great place to live.”