Announcing the move on a visit to the Institute, the Tánaiste said: "These acquisitions will transform the campus in LYIT.
"With a current student population of almost 3,000 and with a projected growth in enrolments of 25% by 2014/15, the need for additional lands has been a priority for the Institute for a number of years.
"Recent reduction in land values has enabled the Institute pursue opportunities that that it could not otherwise pursue.
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"This funding will bring Government capital investment in LYIT to over €43 million in the past decade."
The Institute currently operates from a constrained campus of just 21 acres – the lowest land bank among the country’s institutes of technology.
In total the Tánaiste has approved two acquisitions.
The first is a ten acre site located directly opposite the grounds of the Institute. The land is zoned town centre/commercial.
The second land acquisition consists of 66 acres and is located north east of Knocknamona roundabout. The property is extremely well located with good accessibility and within a short distance of all town amenities. It is approximately one mile from existing LYIT campus. The land is zoned Strategic Community Opportunity under the Letterkenny and Environs Development Plan 2009 – 2015.
The additional land will enable LYIT to utilise this land for playing fields and off campus building to be used for 'standalone functions' not directly related to day to day timetabled educational activities.
The project has been assessed in line with the Government approved capital guidelines.
(CD/GK)
