The funding was approved as part of the Urban Regeneration and Development Fund (URDF) and rubber-stamped by Ministers Darragh O’Brien and Malcolm Nooan.
The market closed in 1996, and has been in disuse ever since.
The funding will facilitate repairs to the roofs, gutters and large roof-lights of the wet and dry market.
The rainwater disposal system will also be repaired as part of the works, and the site will be updated to allow safe access for maintenance and inspectors.
There are no indications of what the market will be used for once the repairs have been carried out.
Since the closure, the market has fallen into decline, but the renewed funding has drawn positive reactions from elected representatives.
Minister O’Brien “I am very glad to be in a position to provide this funding for Dublin City Council to get on with urgent conservation works to secure the Iveagh Markets.”
“We’ve already seen what URDF funding has accomplished in this area with the fantastic public realm works which have been completed on Francis Street.”
“Using further URDF funds we will be in a position to carry out essential works such as conservation repairs to the roofs and works to stabilise the Diocletian style arched windows and associated brickwork – all of which are vital to the integrity of the building.”
Minister Noonan said “this vital funding will secure the fabric of the beloved Iveagh Markets in the heart of Dublin City and prevent any further deterioration.”
“While the future use and management of the building is not included in this specific project scope, it is my hope that the stabilisation of the building will lead to a participative, community-led process that envisions a thriving future for this iconic building as part of the wider redevelopment of Frances Street and Meath Street.”
“The people of the Liberties are rightly proud of their historic market traditions and have a deep sense of place, which the Iveagh markets has the potential to be emblematic of,” he said.
Green Party Councillor Michael Pidgeon said “the future uses of this incredible building are still to be set: several court cases and more funding requirements will play a big role. But this was priority number one for me: save the structure.”
“City Chief Execs take a lot of slagging, but gotta say that Richard Shakespeare really pushed this cleverly with determination behind the scenes to get it over the line,” he added.
The Dublin Civic Trust said “hopefully, this is the first step in reviving the entire complex for public use and enjoyment.”
People Before Profit councillor Hazel De Nortúin said that while the funding is appreciated, it took “an inordinate amount of time to materialise. “
She said that the ideal situation would be the markets ending up under the control of Dublin City Council.
“This funding is coming late in the day as the markets need substantial works to regenerate them – what would be ideal would be for DCC to gain control of this iconic piece of Dublin architecture,” she said.
Friends of the Iveagh Market campaign group members said they were “delighted” with the news.
“Friends of the Iveagh Market is delighted there is funding guaranteed for the emergency remedial works to start,” spokesperson James Madigan told the Irish Independent.
“We are hopeful that remedial works begin as soon as possible. This has been long promised.”
“We remain anxious that the essential preservation begins immediately. The building is running out of time,” he said and added that “we are desperate for works to begin.”
Campaigner, Noel Fleming said “we hope the council will now start to do the remedial works. If the roof is not sealed, the building won’t last another winter.”
“It’s in such a bad state. This is work that needs to be done. To hear a specific amount of money is great.”
Architectural writer Robert O’Byrne said that there are two outstanding questions surrounding Iveagh Markets – “why was this mess allowed to happen” to begin with and “when will the issue of ownership be satisfactorily resolved, or will public money be spent to benefit a private individual?”