The future Abbeylands Project will be "at the heart of Cavan town."
That's according to new Cathaoirleach of the Cavan-Belturbet Municipal District, Cllr Aine Smith.
The plan which was approved earlier this year will see the development of a new multicultural space and public plaza; a business remote working hub; and a new community centre.
Recreation space will also be provided for and the heritage of the area will be to the fore as the walls of ancient graveyard are set to be stabilised.
Speaking to Northern Sound, Cllr Smith believes the project will create "further space" for the people of Cavan and for businesses and enterprises to thrive and grow.
She added that the final product will be a "wonderful" addition to the town and will open up "so many" opportunities:
"It's excellent. It's going to be wonderful for the town. It's going to open up so many opportunities and it is heartening to see new businesses being established at local authority level. That's down to the local enterprise office, the digital hub. They provide such good support for the new enterprises which are creating jobs locally for people in this area. Abbeylands is going to create further space for the people of Cavan to come in and enterprises to thrive and grow".