Limerick Civic Trust's renaissance project will rejuvenate derelict of parts of Limerick and, in particular, the Georgian Quarter. With a vision of creating carbon free sustainable lifestyles, an evergreen fund and Living City Initiative tax reliefs will assist people with restoration and renovation.
Donal Creaton, long standing member of Limerick Civic Trust and current Vice Chairperson, is pleased to be actively involved in the Trust’s promotion of a renaissance project to rejuvenate derelict of parts of Limerick and, in particular, the Georgian Quarter.
The renaissance project has a vision to create 1000 modern apartments across the city within ancient buildings. A Georgetown (Washington DC) type of environment in the heart of the city is planned, based upon a carbon free sustainable lifestyle, to create an attractive magnet city environment, and to encourage community engagements and interactions.
It is anticipated that an evergreen fund will be invested in restoration or renovation of derelict buildings in the city of Limerick. Active discussions are underway as to how to build this evergreen fund in order to move the project forward. Another useful way of retrieving old buildings in the city from dereliction involves use of the Living City Initiative and the tax reliefs provided thereunder. Tax relief are available (expiring 2022 unless extended) for refurbishing or converting existing properties contained within a special regeneration area. Revenue and Local Authority websites host maps which show the special regeneration areas. Tax relief is available for the owner occupier properties as well as rental residential and commercial.
The plans present an ambitious project for the continued renaissance of Limerick city centre which will ensure it will be one of the most beautiful cities in Europe and the world. For further information please contact Donal Creaton or any member of our commercial property team. David O’Brien is the Trust’s CEO and Patricia Roberts is Chairperson.
