The developers behind the Prism building say they expect to start construction this quarter.

This will be Tower Holdings Group’s first development in Cork city and will be located on Clontarf Street, at the edge of the expanding new docklands regeneration area, and adjacent to the Parnell Place Bus Station.

Taking its inspiration from the famous Flatiron building in New York, the Prism building, designed by Cork-based Reddy Architecture + Urbanism, will be a first of its kind in Ireland.

Positioned on a triangular shaped brownfield derelict site and with a footprint of only 310 square metres, the crystalline, light filled tower will stand at 15 floors tall, offering grade A, own floor office space with panoramic views over the city.

The building will be one of the first commercial office new builds in Ireland to comply with the NZEB energy efficiency regulations.

The group is also at an advanced stage of planning for Customs House Quay. That development will be located on the old Port of Cork site.

The project will include a five-star hotel tower along with food and beverage and cultural and maritime heritage offerings. The development also contains a substantial quayside public realm.

The hotel accommodations will offer spa, swimming pool and gym facilities while featuring a sky bar and restaurant where visitors can enjoy locally produce cuisine.

Conor Lee, Director of Operations for Tower Holdings Group (Ireland) told the Cork Independent: “We are at an advanced stage of collating a detailed submission of further information to Cork City Council, having lodged an original planning application in July this year. We continue to work closely with the city council to produce the best possible design for this site. The restoration of the Custom House will be incorporated into a new hotel tower and the bonded warehouses will be opened up for public access which will include a heritage and visitors centre representing Cork’s rich history as a port.”

He added: “The proposal will not only revitalise and enhance the site, but offer a programme of cultural events, food and beverage outlets, some office space and extensive recreational public realm areas which will be fully accessible to the citizens of Cork and visitors alike. The new visitor experience will be complemented with some ancillary retail and a micro-distillery at the eastern end of the site.”

Tower Holdings Group has served the New York market for over twenty years and has delivered some of New York City’s most iconic buildings.

Kevin O’Sullivan, Chairman of Tower Holdings Group in New York said he is “extremely confident” in the future of Cork, with the group establishing a permanent office in the city almost three years ago having acquired a number of sites for redevelopment.

He said: “We believe that Cork is well positioned to take full advantage of the targets set out in the Project Ireland 2040 Plan, with the city population expected to grow 36 per cent by 2031.

“In order to achieve these targets and confirm confidence in the city’s future, it is most important that infrastructure projects match the progress of private development like the Dunkettle Interchange, the city flood defence scheme, quality bus corridors and cycle routes, growth in Cork Airport direct routes, M28 and M20 motorways, and future projects including the proposed light rail from Ballincollig to Mahon and the northern ring road.

“An additional 65,000 new jobs are targeted for the Cork metropolitan area by 2031 which will also require 27,300 new homes to accommodate that growth; a large percentage of which must be in higher density urban developments.”

Mr O’Sullivan also believes that whatever the outcome of Brexit, it will not have a profound or lasting effect on the development of Cork and the greater Irish economy.