Heineken Ireland/Bam have been given the green light for a €150m Brewery Quarter regeneration project on the historic Beamish & Crawford site on Cork's South Main Street.
The consortium was one of two bidders. The other bidder was O'Callaghan Properties with a site at Albert Quay in the city.
Heineken Ireland/Bam's plans include a €50m 6000-capacity events centre, a tourist centre in the former brewery's Counting House, a 360-degree viewing tower, a seven-screen cinema complex, artists' studios, retail units, student accommodation and offices.
Welcoming the decision this evening, the company said it is very pleased to have been chosen and looks forward to getting down to work early in the new year to make it a reality.
It added the project will provide 400 jobs over five years, and will support up to 900 direct jobs, with 300 indirect jobs upon completion.
O'Callaghan Properties, whose site at Albert Quay lost out in favour of the former brewery site, said the decision process was extraordinarily complex and lengthy.
The company added that while it was disappointed not to be chosen, it is pleased a decision for an international event centre in Cork has finally been made.
Increase in Government and local funding for project
€16m in Government and local authority funding had been promised to the successful consortium for the new Cork Convention Centre.
This figure has been increased to €18m following increased allocations from both Government and Cork City Council for the project.
This evening Minister for Agriculture Simon Coveney confirmed that, following discussions with Minister for Public Expenditure Brendan Howlin, Government funding has been increased from €10m to €12m.
While this evening Cork City councillors voted by 25 to 4 to sanction a total of €8m towards the project, an increase of €2m on the original amount promised.
Sinn Féin was among those parties to vote for the allocation, while the Workers' Party and Socialist Party councillors voted against it.
