Dundalk has launched its bid to secure €50 million from the gateway innovation fund for the creation of a new eco-friendly neighbourhood. The town is aiming to become a gateway to the northeast with a target population of 60,000. This would make it one of Ireland's first new cities of the 21st century. The planned neighbourhood is to accommodate 8,000 new environmentally-friendly homes for a possible 20,000 new residents in the southwest Dundalk neighbourhood. The ambitious project requires total funding of €155 million with the balance, €105 million, coming from private investment combined with development levies and other monies secured by the local authority.
