The Department of Environment has been investigating the Short Strand site for some time - given that it has been identified as an important site of historic significance in the development of what became Belfast - originally set on a sandy bank alongside the lower reaches of the rivers that enter the Lough nearby.
Now the master plan for redevelopment of the brownfield site will be seen as another fillip for Belfast and particularly for the less developed east.
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With the huge Victoria Square shopping complex just across the river, the news that the Carvill Group is to include a major international hotel chain in its already submitted plan is further good news.
As well as the hotel, the plans comprise a mixed-use development including: 5,000 apartments; retail space including a supermarket and cafes and restaurants; offices; leisure facilities; a care home; and a nursery.
The £600m scheme will take an estimated 10 years to build and forms part of the city's east bank waterfront regeneration in conjunction with the development of the Odyssey leisure arena.
Carvill bought the site from William Ewart Properties and joint venture partner Snoddens for around £40m in a record price for a development site.
The site, which is near the Short Strand area of Belfast, was sold with existing planning consent for 266 flats on three acres.
It was originally earmarked for a commercial scheme but poor market conditions for office lettings and planning problems prevented development from going ahead.
The Planning Service is also still considering an application for an Asda superstore on the site.
(BMcC)
