As reported in The Echo this week, Tetrarch Capital now has permission to proceed with their development on Parnell Placer after an appeal against the planning decision was dropped.
The hotel development will stretch back to Deane St and on to the rear of homes and businesses on Lower Oliver Plunkett Street.
It is understood the developers will begin construction of the hotel before the end of 2019 with a 2021 completion date in mind.
The application involves the demolition of buildings to the rear of the premises facing Deane St, where the entrance to the hotel will be located.
The buildings facing Parnell Place that were previously occupied by Flor Griffins nd Mahers Sports will be retained. The new hotel will have entrances on both Parnell Place and Deane Street.
A historic laneway that previously existed between the two buildings, linking Parnell Place to Deane St, will also be reinstated.
In addition to 165 bedrooms, the hotel will also have a food hall, shop and café or retail unit at ground floor, all fronting onto an internal courtyard.
Deane St will also see the development of a major office block called The Prism, which is planned for the small triangular site directly opposite the proposed hotel. That development was granted planning permission earlier this week.
Tetrarch is a real estate investment and development platform and is the owner of a number of other hotels including the Mount Juliet Estate, The Dawson and Citywest hotels in Dublin and The Clonmel Park Hotel. The new hotel in Cork has been designed by Burke Kennedy Doyle Architects.