The Urban Regeneration and Development Fund (URDF) is a flagship element of Project Ireland 2040. The URDF was established to support more compact and sustainable development, through the regeneration and rejuvenation of Ireland’s five cities and other large towns, in line with the objectives of the National Planning Framework and NDP. This is to enable a greater proportion of residential and mixed-use development to be delivered within the existing built-up footprints of our cities and towns and to ensure that more parts of our urban areas can become attractive and vibrant places in which people choose to live and work, as well as to invest and to visit.
Through the Fund, successful applicants are being offered targeted integrated support for applicant-led projects that will contribute to the regeneration and rejuvenation of our cities and towns.
The 88 projects approved under the first call offer a good regional spread, and span a number of themes. While the advancement of each project is, in the first instance, a matter for the successful applicant my Department is working closely and actively with them to ensure that the projects receiving URDF support come to fruition as soon as possible.
€58 million is available this year to support these projects while there is an Exchequer commitment of €550 million for the Fund to support these and other similar projects up to the end of 2022. Under the National Development Plan (NDP) a total of €2 billion will be made available to the URDF up to 2027.
A second call for proposals under the URDF will be announced shortly.