The Scottish Government has provided £42million in funding to support the construction of the country’s biggest low-carbon housing development.
The funding will go towards the first phase of the Granton Waterfront regeneration in Edinburgh, which will see Scottish housebuilder, Cruden Homes, build 847 net zero homes in partnership with the City of Edinburgh Council and the Scottish Government. Phase one will include 387 affordable homes, a new primary school and space for 14 businesses.
It forms part of a wider £1.3billion programme to regenerate Granton Waterfront, which will deliver 3,500 new homes in total and provide space for leisure facilities and Scotland’s largest coastal park.
The new funding package is being provided to City of Edinburgh Council over a 20-year period. Payment is conditional on the Council meeting targets, including creating job and apprenticeship opportunities and investing in non-profit organisations to tackle disadvantage in the north of Edinburgh.
Deputy first minister, Kate Forbes, said: “This investment demonstrates our commitment to tackling Scotland’s housing and climate emergencies while supporting communities that need it most.”
“By working in partnership with City of Edinburgh Council, we’re unlocking £220million in private sector investment to transform Granton Waterfront into a thriving coastal community with hundreds of net zero homes, a new school and business space.”
“Communities in Granton are at the centre of this project and will directly benefit from improved transport links, green spaces and job opportunities as we regenerate this important brownfield site.”
City of Edinburgh Council leader, Jane Meagher, said: “I welcome this funding to help us deliver the first phase of this hugely significant £1.3billion regeneration project at Granton Waterfront in the north of the capital.”
“The regeneration of Granton Waterfront is about helping make Edinburgh more inclusive by improving educational attainment, health and well-being, local employment opportunities and eradicating child poverty. I’m really pleased we’ve received this new funding as we’re committed to delivering these important outcomes to create better opportunities for the people living in this area.”
The Scottish Government will provide the City of Edinburgh Council with up to £2.1 million per year over a 20-year period to support the first phase of Granton Waterfront’s regeneration. It is also providing an additional £16million towards the first phase of the project through its contribution to the Edinburgh and South East Scotland City Region Deal. Public sector investment is estimated to leverage a further £220million of private sector investment in houses and business space.
