Dublin City Council has approved the development of a new neighborhood, dubbed the "Guinness Quarter," around the St. James's Gate Guinness brewery in Dublin.

Diageo’s development partner Ballymore submitted the plans to the council last year and has now received a 10-year planning permission for the regeneration scheme, reports DublinLive.ie.

Two new hotels, five commercial office buildings and six residential structures, including a 16-storey build-to-rent apartment building, will be constructed on the existing Guinness Brewery lands to the South of James Street in Dublin 8.

The area will have a marketplace, foodhall, and various retail, café, restaurant and pub venues, as well as two acres of landscaped public space, and other community and cultural spaces.

The development will see the demolition of existing structures, primarily existing office and former industrial buildings.

Protected structures on the site, including James’s Street Gateway, will be conserved along with existing site walls.

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According to The Planner, the council's permission comes with a number of conditions, stating that build-to-rent units cannot be used for short-term lettings and that Ballymore must pay a development contribution of €10.6 million to the local authority “in respect of public infrastructure and facilities benefiting [the] development."

Last year at the announcement of the project, Ballymore Group CEO Sean Mulryan said:: “By balancing new and carefully considered interventions with heritage buildings, which are being repurposed and given a new lease of life, our vision is that St. James’s Gate will be among the finest examples of sustainable urban development, protecting the cultural, community, social, and industrial legacy of this part of Dublin 8 and the Liberties. It will be a development that everyone in Dublin will be proud of and enjoy."

Diageo Ireland's managing director Barry O’Sullivan said: “The history and heritage of Guinness and St. James’s Gate for Dublin and the local community is hugely important. It is a unique and special place. The plan that has been created respects this historic community while also transforming it into one of the most dynamic neighbourhoods in Europe.

“This allows us to continue our centuries old brewing operations in Dublin 8 while also developing the area into a truly modern place to live, work and play. We have engaged extensively with the local community to develop this plan and look forward to further conversation as we take the next step on the journey towards creating the Guinness Quarter.”