An application for 780 new homes in the Waterside is expected to be approved next week by Derry City & Strabane District Council.
The plans represent a £100m investment by developer South Bank Square Ltd.
It is proposed that 780 new homes, a mix of detached, semi-detached, townhouses and apartments will be built at Ballyoan, adjacent to Crescent Link and Clooney Road.
According to the developer, the new development will create and sustain employment for 90 full time jobs each year during the 10 years it is expected to take to complete the project.
If approved, an application for the first phase of new homes is ready to be submitted to allow construction to commence.
The owner of South Bank Square, Seamus Gillan explained: “We are delighted to have received a recommendation for approval from the city planners. This is a unique site and a significant development for the Derry city region that will deliver much needed quality, family homes in a neighbourhood environment. We very much welcome the support we have received from the council, local community, elected representatives and the significant progress that has been made to bring forward our development plans to this stage”
“If our application is approved, we will take forward proposals for phase one of the development immediately and we would hope to secure detailed permission in order to commence development on site later this year.”
The developer revealed that in addition to the new homes, their master plan over the next 10 years for the area includes some commercial space, play and recreation areas, a linear park and public amenity space.
He added that the company ‘look forward to this new development being our first major investment in the city.’
It is understood that, if approved, this new development will also see significant improvements made to the Caw Roundabout and Gransha junctions.
Mr Gillan continued: “From our early consultations with the local community, the planners and local elected representatives, we have known the importance of creating a master plan for a comprehensive and sustainable development at Ballyoan.
“We are very excited by this development and we are delighted to be creating a beautiful place to live and contributing a new neighbourhood to the city that can also improve the lives of existing residents.”
Brian Kelly, Director of Turley, lead planner for South Bank Square Ltd, welcomed the recommendation to approve the application.
“In recent years there have been few developments with the ability to develop housing of this scale and investment and if approved this will be a welcome boost for the North West economy and for home-buyers seeking quality family homes in the city,” he said.
He said there is an increased demand for quality homes.
“We are grateful for the effort from council planners and statutory agencies to bring this application to this point, and the support that it has received.”
The plans are to be discussed at a special meeting of the council’s Planning Committee on March 25.