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It was against a bleak background of unemployment, deprivation and instability that the Custom House Docks Development Authority (CHDDA) was established by the state in 1987, as a special project organisation to oversee the development of an international financial services centre (IFSC) within the Docklands. The Urban Renewal Act 1986 delineated the boundaries of this area, which included the land between Amien Street to the west, Common Street to the East, Sherriff Street Lower to the north and Custom House Quays to the south. The Urban Renewal Acts of 1987 and 1994 expanded the site to include the land to the east until Spencer Dock and an extension to the centre of the Liffey.
These Acts and the resultant Planning Schemes of 1987 and 1994 established a framework to spur investment in run down inner city areas and reflected a broad focus on the renewal of the historic city. Tax incentives were the key new instrument for encouraging private sector funding of this phase of urban renewal. The chief concern at these early stages was the physical regeneration of the area and the establishment of the IFSC. And while there is no doubting that the latter proved a major innovation, especially in terms of employment, other concerns embracing broader social, cultural and environmental dimensions remained secondary.
The Planning Schemes proposed a broad mix of development yet the IFSC Phase 1 remained the major catalyst and by the mid-1990s the character of the original site (as described by the Urban Renewal Act 1986) became that of a high-class business enclave rather than a vibrant, new neighbourhood per se. No major cultural amenities were built, although from the start it was the stated intention of the Authority to reserve the massive warehouse space of Stack A for a major cultural attraction. New residential blocks were built around the Inner (Revenue) Dock to make use of the water as a public amenity, built with 20-35 year olds in mind. Many new tenants were young upwardly mobile professionals and no new apartments were given over to the local population. This lack of social integration, added to the general lack of consultation with the local communities lit a fuse of bitterness amongst the latter. They felt left out of the renewal equation and increasingly demanded to see how they would benefit from this considerable investment in their area.
The IFSC Phase 2 saw a radical shift towards a more holistic approach which took account of the wishes of the community and succeeded in attracting a broader mix of less mobile tenancy to more mixed-use projects.
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