Plans for the ‘largest and most important brownfield development in Edinburgh city centre for a generation’ were approved by the City of Edinburgh Council yesterday (Wednesday 17th February).
The development will create 350 new homes and provide 700 new jobs, giving a major economic boost to Edinburgh’s city centre and the Capital’s economy.
The construction phase alone will boost the local economy by more than £27.7 million a year while work is carried out, and the development will further boost the local economy by £35.5m each year once complete.
Work will begin soon and the New Town Quarter development could be complete as early as 2024.
Ross McNulty, Development Director at Ediston, said: “We have worked very hard to comply with all the relevant policies for such an important site. Our design has been driven by a thorough understanding of the heritage issues associated with being adjacent to Edinburgh’s World Heritage Site, and to open up the area, breathing life and activity into what is currently a redundant brownfield part of the city.
“We have conducted the largest consultation exercise ever carried out in this local community and, as a result, we have made many changes and improvements based on the feedback we have received.
“New Town Quarter will be one of the best places to live and work in one of the world’s finest cities and will help make Edinburgh’s heart beat even stronger. We are looking forward to turning our vision into a reality.”