UCD is expected to resuscitate plans for its Gateway development in the coming weeks. Five consortia have been shortlisted for the scheme and sources said tender documents are due to be circulated in the near future after a meeting of the university's board.

Each of the consortia has a number of members but sources said they were led by Treasury Holdings, Bernard McNamara, Green Property, Ballymore and P Elliott & Co respectively.

The UCD Gateway is a major scheme of 120,000sq m earmarked for a 24.5-acre site at the Stillorgan Road entrance to the Belfield site. The location next to the N11 will be a major draw of the scheme, which is to include a cultural centre with arthouse cinema, new student housing, medical centre, creche, a hotel, offices, car parking and conference facilities. UCD has run an architectural competition to choose a designer for the scheme.

The Gateway is part of UCD's 15-year development plan, which is designed to drive growth at the university. UCD sits on 325 acres but buildings cover only 9% of the campus. The university is zoned almost in its entirety to protect and/or improve residential amenity.

There is also a specific local objective in the current Dún Laoghaire Rathdown development plan.

The Gateway may face delays due to the downturn in the property market, sources told the Sunday Tribune, but they suggested the process of selecting a preferred developer would go ahead.