Docklands authority reports income of €27.7m

The Dublin Docklands Development Authority (DDDA) had income of €27.7 million from disposals of development assets according to its annual report, published today.

The authority's second executive board and 26-member council published the first annual report of its five-year term this morning. The council and board are appointed by the Minister for the Environment, Mr Dempsey. Half of the executive and half of the council changed.

Chairman of the executive Board for a second term, Mr Lar Bradshaw, said 2002 had marked the completion of the second phase of the IFSC project.

The DDDA said that from a clear site there were now 800 apartments, 70,000 sq metres of office space, a 20,000 sq metre space for the National College of Ireland and a civic square.

Mr Bradshaw said the work was ongoing on the "progression of conservation and redevelopment of Stack A" .

The 19th Century structure is protected because of its cast-iron roof structure and brick-vaulted basement. For more than a decade the Discovery group has argued that Stack A should be turned into an interactive science museum.

However, the DDDA confirmed today that the building "is being transformed into a major retail destination" which will include shops, cafes and an as yet undecided cultural centre. The redevelopment is expected to cost €40 million.

Mr Peter Coyne, chief executive of the DDDA said the first five year review of the authority's master plan revealed that housing concerns were the most significant issue.