Hammerson has detailed its proposals for the regeneration of an "important" site in Dublin's north inner city to include a fully integrated Metrolink station for O'Connell Street.

The "Dublin Central" masterplan proposals include two new public squares, new pedestrian routes and the restoration of historically important laneways.

It also ensures the area around numbers 14 to 17 on Moore Street, a National Monument due to its role in the Easter Rising, is appropriately restored as part of the project.

The wider Dublin Central masterplan area, with almost 200m of frontage on O'Connell Street Upper, is bounded by Parnell Street to the north, Moore Street to the west and Henry Street to the south.

Three out of six planning applications for the proposed mixed-use development were submitted to Dublin City Council, with more to follow in the coming months.

"We're delighted to be submitting planning applications today," Ed Dobbs, Development Manager with Hammerson told business news on Morning Ireland.

"It's a 5.5 acres site located in Dublin 1. There is an existing planning permission for over 1 million square feet of retail for a shopping centre which was granted in 2009.

"We are bringing forward a totally new vision for a mixed use scheme which includes 94 units residential, 210 hotel beds, 44,000 square metres of office space, 8,000 square metres of retail - with food and beverage uses, as well as cultural uses."

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The initial applications comprise lands situated on the west side of the site and include residential, hotel, retail, restaurant and café and cultural uses.

If successful, work on one of the city's largest regeneration sites could begin as early as next year.

The National Monument on Moore St is under the ownership of the State, and there are plans forthcoming for the regeneration and restoration of that as a commemorative centre.

Mr Dobbs said it is a focal point of Hammerson's master plan. "We are delivering a new public square to the north of the national monument and we're restoring the historic streets and laneways within the site itself.

"We'll be retaining a good degree of 1916 fabric over the site, while also introducing new street connections from O'Connell St through to Moore St and the National Monument which will help drive footfall into Moore St and increase the profile of the National Monument."

The street is also home to the Moore Street traders who will not be able to operate when construction begins. Hammerson is supporting a recommendation from an advisory group that the last remaining traders should be compensated.

Mr Dobbs said the company expects Dublin City Council to bring forward compensation proposals and "we await progress in that regard".

He said the traders are at the heart of the scheme. "There will be over 2,200 office workers on site so we think the future is bright for the Moore Street Market."

The overall Dublin Central scheme has about 20% of retail which is significantly less than what was proposed under the existing permission. "We feel it's about right. It's a great location for retail - high footfall, a city centre location.

"We're bringing forward a scheme that has iconic design, that will be authentic and create a real sense of place, but we also feel it's ideal for offices. It's will be on a future Metrolink, it's probably the most connected area of the city with 31 bus routes running through O'Connell Street and the Luas, both lines, so it's about the right mix for us."

Hammerson has forecast that the regeneration project will create a total of 8,600 jobs - including on-site, locally and supply chain jobs while it will also support 50 skilled apprenticeships.

The scheme will see 366 full-time retail employees when it is launched, of which approximately 85% will be local jobs. Up to 2,200 office jobs are also expected to be created once all the new offices are fully let.

Hammerson is predicting the new development will generate €8m in business rates a year.

Ed Dobbs, said that Dublin Central will regenerate this important part of Dublin, breathing new life and vibrancy into a unique area with an important history.

"Our priority has been to preserve and celebrate the site's heritage whilst bringing forward an appropriate proposal that seeks to enhance its history and tell its story. We are passionate about reinstating the site as a focal point of Dublin life for the people of our capital city," Mr Dobbs said.

"The creation of this new landmark destination will also bring significant economic, employment and spill-over benefits locally, creating safe, high-quality public spaces where people and brands will want to be," he added.

Taoiseach Micheál Martin said the plans will enhance the status of O'Connell Street by developing new transport links and delivering new homes, retail facilities and offices which will boost employment in the area.

"The locations around Moore Street and the GPO will see an increasing number of visitors who will be drawn to the seminal role it played in our history," he added.