Port of Leith Housing Association (PoLHA) in conjunction with its subsidiary company, Persevere Developments Limited, has started work on its Albion Road development.
The 42 affordable homes, made up of 10 one bedroom, 25 two bedroom and seven three bedroom properties, are being built for social and mid-market rent: thirty- five of the flats will be available for mid-market and the remaining seven homes available for social rent.
The properties will benefit from a high level of energy efficiency with heating and hot water provided from gas combination boilers augmented by heat recovery systems, enhanced levels of insulation and timber frame construction.
Keith Anderson, Chief Executive of PoLHA, said: “Building high-quality, affordable housing in Leith and North Edinburgh is at the heart of what we do and Albion Road will complement our existing mix of developments in the city. Local people still have difficulties in accessing good quality homes which is why Albion Road will help meet a wider range of needs.”
The main contractor is J Smart & Co and the £4.98 million development is being funded by a combination of private finance raised by PoLHA and a Government grant allocated by the City of Edinburgh Council.
PoLHA is building the mid rent homes on behalf of its wholly owned subsidiary company Persevere Developments Ltd (PDL) which was set up in 2011 to allow the Association to be more innovative in terms of funding and development of this kind.
PoLHA owns around 2400 properties throughout the North Edinburgh area and hopes to deliver up to 500 additional new homes by 2015 through the Association and PDL.
The development is due to be completed in Autumn 2015.
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