A total of €2.3 million in funding has been allocated for the purchase of the former Pretty Polly site on Upper Park Road in Killarney.
The funding, granted by Minister for Further Education James Lawless, has been allocated to the Kerry Education and Training Board to transform the site into a Tourism Sector Training College.
The Kerry Education and Training Board formally submitted a proposal to rejuvenate the old Pretty Polly site last year.
The Board envisaged a college with a campus to accommodate four thousand students.
The announcement has been welcomed by Children's Minister and Kerry Fianna Fáil TD, Norma Foley, Deputy Michael Cahill, and Deputy Danny Healy-Rae
Meanwhile, The Tánaiste has welcomed the announcement.
In November 2022, Simon Harris was Minister for Further and Higher Education, when he announced the former Pretty Polly in Killarney is to be developed into a third level college.
The Tánaiste says this announcement is important for access to education and, for the tourism industry and hospitality sector.
Simon Harris also praised former Fine Gael TD for Kerry Brendan Griffin, who he says championed the development from the beginning.