Work to convert the Victorian fruit and vegetable market in Dublin's north inner city into a retail food market, which includes cafes and restaurants, is expected to get under way in June.
It follows approval by Dublin City councillors for a €30 million loan to cover the conservation and refurbishment costs.
The market, which was used as a food wholesaler, was closed in 2019.
The work will see the building, which covers 6,000 square metres and its adjoining yards of almost 2,500 square metres, upgraded at an estimated cost of €44 million.
In a report to councillors, Dublin City Council said that the market is a "jewel in the north city" and that it was under-utilised in its former use as a wholesale provider of fruit and vegetables.
It said the red brick building, decorated with ornate tiles, is in need of substantial repair and conservation work, including to its roof.
There are plans to make trading space for food producers, cafés, restaurants, open food markets and a public event space.
It said when the construction is under way, an operator will be chosen to fit out and operate the market.
Planning permission was originally granted in 2015 to change the use of the Victorian market, and in 2016, negotiations got under way with traders to vacate the site.
In 2017, the first phase of the project saw the site of the former fish market converted to a surface carpark and a multi-use games area.
That was completed at a cost of €1.7m.
The market was closed in August 2019 after temporary accommodation was secured for its tenants, but the Covid-19 lockdown of 2020 and the impact it had on the market sector led the council to revise its approach to redeveloping the site.
In August 2024, a tender was issued for the redevelopment of the site.
Dublin City councillors said the loan repayments of €1.76 million a year over 25 years will be fully funded from the rental income and car parking receipts and profit share when the market is fully operational.
Those behind the project said that the focus will be on returning the building to its former market use, where Irish food providers can showcase their produce and members of the public can do their weekly shopping.
Its future use is described as being similar to that of the English Market in Cork and not like the Time Out Market in Lisbon.
Siobhan Maher, Project Manager of the redevelopment for Dublin City Council, said the redevelopment is designed to transform the area while bringing the building back to its original market use
"We'll have 88 traders approximately in the building, with a combination of food, poultry, fresh produce," she said.
"We'll have a restaurant of about 80 seats. We'll have food demonstration space, some entertainment space for the local community.
"It's a meeting point, but also somewhere to go for lunch, somewhere to have food now, to take away, to do your weekly shop.
"It will have strong eco credentials emphasising Irish food. A centre really, for the community. We imagine a lot of design and crafts will also grow up around it," Ms Maher added.
Local Sinn Féin Councillor Janice Boylan, who is from five generations of street traders, said she hopes the market thrives under this regeneration project but that it must remain affordable and accessible to locals.
"My nanny and myself used to come into the market every morning and have a look at the fruit and everything else, and get it sent up to Moore Street.
"The importance for the traders to feel that they are included in this and that they have a place in this is really, really important. And if we don't get that right, I fear it won't work."
"If you have a big building like this and it prices the local community out of it that's a big disaster as far as I'm concerned.
"The people in this area are used to having fresh fruit and fresh flowers at a very reasonable price and we have to give this to them," Cllr Boylan added.
