A new Belfast city centre project has been named Tribeca Belfast.
An acronym that is also used for a neighbourhood in New York City, Tribeca reflects a description of the development as the ‘triangle beside the cathedral’.
The Castlebrooke Investments regeneration scheme is located at a 12-acre site beside St Anne’s Cathedral and bordering Royal Avenue, Donegall Street, Lower Garfield Street and Rosemary Street
The £500m project, will include 1,500,000 sq ft of residential space, office units as well as retail and hospitality elements.
It will also include a “sensitive refurbishment” to protect and preserve a listed building on Lower Garfield Street – branded as Garfield & North.
It is the largest single regeneration project in Belfast city centre and formerly went by the name of Royal Exchange.
The London-based Castlebrooke said at a media briefing last night that Tribeca will transform Belfast to “become more international”.
Its chief executive, Neil Young said: “Our aim is to transform the city centre through comprehensive regeneration, putting Belfast at the forefront of British and European cities.
“On completion, the scheme will create a new urban realm that blends the area’s history with state-of-the-art-design. It will provide 1,500,000 sq ft of best in class mixed-use space.”
Mr Young said: “We want people to know that the development is moving forward. We have already invested £50m of cash in site assembly, planning and professional fees and we plan further major investment.”
The first phase of Tribeca will be two Grade A office buildings covering 180,000 sq ft and will also include 24 apartments and ground floor retail and hospitality units to encourage city centre living. Mr Young said it was “entirely probable” that the first phase could be completed in 2021, adding: “There is a lot of uncertainty with the EU and things could massively change.”
“We could have a general election soon, no one knows, so I would say we are being not cautious – but sensible.”
He said detail on subsequent phases will come later, when new planning applications are made in the New Year.
Estelle Hunt, director of Castlebrooke, said: “Tribeca Belfast will be an iconic development in the heart of the city which will encourage people to enjoy it as an outstanding place to live and work.”