The original plans for a €1.25 billion enclosed shopping centre have reportedly been scrapped.

Business group Dublin Chamber, which represents over 1,300 businesses, has welcomed proposals unveiled on Friday to redevelop the north of O’Connell Street and Moore Street. The plans are to create two new civic squares, shops, offices, apartments, a hotel, metro station and also a new east/west street which will allow pedestrian access between O’Connell Street and Moore Street. According to Dublin Chamber’s Head of Communications Graeme McQueen: "The north of O’Connell Street has been lying idle for far too long. O’Connell Street should be the jewel in the crown of Dublin. But over the past few decades it has become an area of huge frustration for both businesses and locals. "The plan from Hammerson to redevelop the entire area is very welcome and has the potential to be the start of a bright new era for both O’Connell Street and the wider north City Centre area." Speaking to JOE, property group Hammerson spoke of their development plans in more detail: "We continue to engage with a wide range of stakeholders on an ongoing basis regarding the future development of the Moore Street area, ahead of a wider public consultation. Hammerson seeks to protect and enhance the Moore Street area’s unique heritage including its market and connections with 1916, while at the same time delivering clear economic benefits and employment opportunities locally." "As part of this process we have appointed architectural practice ACME to look at options for the entire site which stretches from Upper O’Connell Street to Parnell Street to Moore Street and Henry Street. The proposals will reinvigorate this part of Dublin’s north inner-city. "ACME has been working with the DIT School of Architecture, which was commissioned by the Moore Street Advisory Group, to develop a historically-sensitive vision for the area that is acceptable to all stakeholders."