It follows the MLA writing to the Department for Communities earlier this year to support the bid.
Said Ms McLaughlin: “After a long wait for Institute FC, I am delighted that they will now finally be able to start the work of building a new home at Clooney Park West.
“I am aware that the application is the culmination of over five years of work undertaken by the club, Council and the Department after the devastating impact of the flood a few years ago.
“I know the whole local community will be pleased for Institute today.”
Waterside Councillor Martin Reilly said: “Institute FC is an essential part of the local community and I know how the club’s vision has expanded to include involvement and participation from other local clubs and a range of other organisations focused on the wider economic and social needs of the whole community, so today’s news is very welcome indeed.
Fellow Waterside Councillor Sean Mooney said: “This is very good news today.
“Institute FC is an integral part to local sporting and community activities within the city and their new home is very well-deserved.”
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