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Old April 24th, 2013, 09:16 AM   #1
oon27
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Boston real estate companies look to Dublin to build trade and conference centres

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Two leading real estate developers based in Boston are pursuing separate plans to establish conferencing and trade centre facilities in Dublin.
John Drew of the Drew Company is considering locating a World Trade Centre in the capital. He holds the WTC franchise for Dublin and operates similar facilities in the US, including in Boston.
He is the founder and president of Drew Company, a Boston-based real estate management and development company. His developments have included the Seaport Hotel and World Trade Center in Boston, which last week hosted the final leg of a four-city trade mission by 40 Irish business executives, accountants and lawyers.

‘Commercial project’
Speaking to The Irish Times , Mr Drew said: “We would like to do a commercial real estate project in Ireland.”
This includes establishing a trade centre, possibly with conferencing and hotel facilities in Dublin, he added.
“I’m trying to figure out the size of the market and whether or not we create conferencing around the trade centre.”
Mr Drew has established a company here to pursue this opportunity, called Drew Dublin WTC Management Ltd.
The Boston businessman is also eyeing opportunities for student accommodation and it is understood that he sought to acquire the former Montrose hotel in Dublin recently.
Mr Drew would like to establish a WTC in 2014 or 2015. He would “fund it with equity from the US”.

Dublin Port
Separately, Mike Corcoran confirmed that he is in talks with Dublin Port on possible sites to locate a conference centre with a main space comprising 250,000sq ft and a potential capacity for up to 20,000 delegates.
Mr Corcoran said he has engaged PwC to conduct a feasibility study. The firm has already done a study of demographics and he is “comfortable” with the numbers.
Mr Corcoran predicted that such a facility would “certainly” cost less than €100 million to develop.
He said the development might require Government incentives but that it would not take business from the Convention Centre Dublin in Spencer Dock, which is State subvented.
Mr Corcoran is involved with Corcoran Jennison Corporation, one of the biggest real estate development and management companies in Massachusetts.
http://www.irishtimes.com/business/s...tres-1.1370266
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Old April 24th, 2013, 11:03 AM   #2
Catmalojin
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This is a great vote of confidence in the future of the Irish economy!

Very interesting about the Montrose Hotel, since it closed I've thought that it would be good for student accommodation if properly renovated.
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Old April 24th, 2013, 02:11 PM   #3
oon27
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I wonder did both companies know about each others interest before they started exploring the idea.
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Old April 24th, 2013, 11:03 PM   #4
Dvblvnia
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This sounds very exciting if it comes to pass. Dublin could have a real proper Messehalle like the principal cities of Germany. As great as the Convention Centre Dublin is, it still isn't in the top flight of conference centres in terms of capacity. This proposal would put Dublin in the first rank of cities with conference centres. Stuff like a European Comi-con or Consumer Electronics Show Europe like I mentioned in the "Whither Anna Livia" thread could be held with ease at a facility like this. It'd also be a great place to host an Irish Eurovision final and semi-finals if and when we do win the bloody thing again! Since Ireland dominated Eurovision in the 90s it has moved on - look at the cavernous place the Germans staged it when they won it a few years back. Even the renovated Point or glamorous Grand Canal Theatre doesn't compare to the numbers that place could hold. This Bostonian proposal would have the space to do that. It's great to see a sister city like Boston helping us out like this. First cheap insurance from Liberty and now this! Let's build this thing!
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Old April 25th, 2013, 01:14 AM   #5
PeteC
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In doing a bit of research, I came across the World Trade Centre Dublin website, which links from the Drew Company website. There is nothing about this project, yet. I am sure the World Trade Centre plan would kill off the Chinese trade centre in Athlone, which might not be a bad thing. Dublin is obviously a more viable location for something that requires many people to fly to attend.

The Docklands would be a good location for another, larger, convention centre given it transport links. Having large conventions in the heart of the city would a huge boost to the economy and there would be a real buzz about the city when a convention is on. I guess the only good thing about our poor planning policies during the boom (building everything along the M50) is that there might actually be space of such a large building in the Docklands. Something like this will obviously employ a lot of people and delegates will need to get there so would only strengthen the business cases for both Dart Underground and Metro North.
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Old April 25th, 2013, 10:09 PM   #6
Catmalojin
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Quote:
Originally Posted by Dvblvnia View Post
It's great to see a sister city like Boston helping us out like this.
There's an idea! It would be great to have Boston and Dublin as sister cities, I'm surprised it hasn't happened already.
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Old April 26th, 2013, 12:36 AM   #7
Dvblvnia
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Quote:
Originally Posted by Catmalojin View Post
There's an idea! It would be great to have Boston and Dublin as sister cities, I'm surprised it hasn't happened already.
It is an odd one considering how Irish Boston is. We're already twinned with the most Irish city in the UK (Liverpool) so it'd make sense to be linked with the most Irish city in the US.

This conference centre would probably add €50-100 million annually to the Dublin economy in hotel, taxi, restaurant, bar and other receipts.
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Old April 26th, 2013, 07:07 PM   #8
thebig C
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Wow, I'm very surprised we're not twined with Boston. Then again, in comparison to other Cities Dublin was used twinning very very sparingly. Its counter-productive as such a simple symbolic act can actually generate alot of goodwill.

The articles above are very interesting indeed. Unfortunately, in my experience for every ten proposals only one goes ahead. Added to which, ABP will find some reason to refuse....I can just see them now looking at the potential traffic generated and getting the rejected stamp out of its box!
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