The development will be built across a number of townlands.
A new shared walkway and cycleway has been approved in Westmeath.
The development will be built on Bord na Móna lands between Derries and Ballynahown.
Works would include the repurposing of a rail bed, construction of parking facilities and upgrades to works at the River Bridge and local access road crossings.
The proposal has been granted by Westmeath County Council subject to 12 conditions.
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