The developer of a major regeneration project in the centre of the Scottish capital has claimed its new India Quay development could boost the local economy by more than £30m over the next three years.
The figures released by Edinburgh City Council's arms length firm the EDI Group Ltd highlight the economic impact of building its India Quay development at the former McEwan’s brewery site in Fountainbridge.
READ MORE: Luxury aparthotel next to Edinburgh's Royal Mile
The first phase of the £200m development which has now been submitted for detailed planning consent, will transform the under-used site into a modern mixed-use neighbourhood of canal side apartments, shops and businesses.
EDI’s masterplan will deliver the largest build-to-rent scheme in Scotland to date and includes 438 mixed tenure homes and apartments, alongside a hotel, as well as cultural, office and retail spaces with a selection of cafes and restaurants on offer.
The first phase of the development will create 250 jobs in Fountainbridge, rising to 1,250 when the whole site has been developed.
READ MORE: Luxury aparthotel next to Edinburgh's Royal Mile
The first phase will also generate 140 construction jobs.
When completed, India Quay will contribute more than £30m to the Edinburgh economy.
Councillor Gavin Barrie, chair at the EDI Group Ltd, said: “These latest economic impact figures highlight how important India Quay will be for growth, investment and job opportunities in the city, especially in the creative and cultural industries and in the retail, tourism and hospitality sectors.
“Bringing an under-used site back into community use will also deliver innovative living opportunities for local residents and workers at a time of need.
"India Quay will be a quality addition to the Edinburgh’s iconic built environment and create a vibrant destination to attract additional visitors to the capital.”
READ MORE: Luxury aparthotel next to Edinburgh's Royal Mile
Working with Edinburgh-based 7N Architects, EDI’s detailed residential plans include a range of one, two and three bedroom hi-spec apartments as well as 112 affordable homes. The three bedroom homes will be built in the traditional colony style, a favourite of the Edinburgh family market.
The first phase of the India Quay development on land west of Gilmore Park will also include a new home for the Edinburgh Printmakers' new studio.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereLast Updated:
Report this comment Cancel