Recent Development
Passage West suffered from relatively high unemployment for much of the late 1980s and early 1990s, but recent re-development, along with the sweeping harbour views the area offers, has resulted in the town becoming a popular place to live. There has been a substantial amount of new housing development in the last seven or eight years - especially in the townlands of Pembroke and Rockenham on the northern edge of the town.
In 2006 Howard Holdings, one of Ireland's largest property development companies acquired the former Royal Victoria Dockyard site from Haulbowline Industries, a stevedoring business owned and managed by the Hill family (David, Orlando and Roger Hill). In December 2007 they held a public display of plans for the redevelopment of the site. At the time they indicated that this development would proceed immediately subject to planning approval. However the project has since stalled due to the collapse of Ireland's property boom and Howard Holdings is, as of May 2011, in danger of collapse due to heavy debts and its association with the bailed out Anglo Irish Bank
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