Maynooth Eastern Ring Road tendered
Kildare County Council seeks contractor for road project in association with the Housing Infrastructure Services Company (HISCo).
The Works include Construction of a new Maynooth Eastern Ring Road which involves the construction of approximately 1.45 km of Type 3 Single Carriageway connecting the Leixlip Road (R148 regional road) and the Celbridge Road (R405 regional road) in a north-south direction to alleviate traffic within Maynooth.
The development will involve two new junctions on existing roads, providing access to the R405 and the R148, and a proposed new bridge crossing the Royal Canal and Dublin to Sligo railway line located south of the existing R157 and R148 T-junction. The proposed bridge is located approximately 1km to the east of Maynooth town centre. There are also a series of reinforced concrete noise barrier walls to be constructed at the southern tie in to Cellbridge Road.
The joint shareholders of HISCo are Cork County Council and the Ireland Strategic Investment Fund, (managed and controlled by the National Treasury Management Agency)
HISCo’s objective is to deliver infrastructure that is holding up the delivery of much needed residential accommodation throughout the country, where there is no state funding available to deliver the infrastructure in question.
The Company provides a design-build-finance service for both on-site and off-site infrastructure that facilitates residential development.
HISCo will recover its investment via an Infrastructure Fee only payable on the sale or first lease of each individual unit.
HISCo, as a private Designated Activity Company, will operate on a fully commercial basis, targeting a commercial return for its Shareholders. HISCo will contribute to increasing the number of units, and the mixture of tenures, available to those trying to secure a home in Ireland.
HISCo’s Business Model is ideally suited to deliver infrastructure involving multiple landowners and to single-owner sites.
The provision of critical infrastructure often represents a significant barrier to construction activity at the rate required by market demand.
By working in partnership with HISCo:
A developer is securing access to finance to construct the infrastructure necessary for the delivery of accommodation
Projects will be managed, designed and constructed by professionals who have experience and expertise in the delivery of major infrastructural schemes
Repayment of the capital investment will only be required when the developer starts to realise income from the sale, or first occupation, of units.
Responses for the €15 million contract are due by 31/01/2025.
