EDC in group building complex in N. Ireland

July 10, 1991

The Columbia-based Enterprise Development Co. is part of a consortium that has been selected to develop a $200 million mixed-use project near Belfast in Northern Ireland.

The project, called Laganbank, is to sit on a 14.5-acre parcel owned jointly by the Belfast City Council, the Northern Ireland Department of the Environment and the Northern Ireland Transport Holding Co.

Other members of the consortium are O'Hare & McGovern Ltd., a general contractor and developer, and Ewart P.L.C., a commercial developer, both from Northern Ireland.

"Laganbank, our first project in Northern Ireland, will help contribute to the ongoing renaissance of Belfast -- a renaissance our two partners have helped engineer," said James W. Rouse, chairman and chief executive officer of Enterprise.

Belfast has an active downtown that is expanding toward the waterfront.

Located on the River Lagan, Laganbank is to include 425,000 square feet of office space, 90,000 square feet of retail, an international-class hotel and a small marina. A concert hall and a transportation center also are planned.

The first phase is expected to begin in 1992. Completion is scheduled for 1996.

Enterprise has developed waterfront festival marketplaces in the United States, Australia, Japan and Spain, such as Waterside in Norfolk, Va., and Harbour Island in Tampa, Fla.

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