THE Scottish Government is providing a massive £16m to the City of Edinburgh Council to help the authority build new energy efficient, affordable homes.
The project will aim to regenerate the Granton area of the capital with the funding announcement made yesterday.
Money will come from the Government’s Scottish Housing Infrastructure Fund and will help the city council build 847 new homes, including 387 affordable homes.
The project is part of a wider scheme of financial support for the redevelopment of the Granton area being developed by the Scottish Government.
The government said it reflects their commitment to support seven strategic sites as part of the Edinburgh and South East Scotland City Region Deal.
The First Minister and leader of the SNP, John Swinney, visited the site to announce the funding package.
The First Minister said: “This impressive development is transforming the Granton area of Edinburgh – through the development of new homes, improved infrastructure and low-carbon district heating solutions.
“Public sector investment in the first phase of Granton Waterfront is estimated to leverage a further £200m of private sector investment in private housing and the low carbon heat network.
“The 2025-26 Budget has allocated more than £7bn for infrastructure and £768m to ramp up action on delivering affordable homes.
“This development at Granton Waterfront is an excellent example of how Scottish Government investment is already delivering across my government’s four priorities – to eradicate child poverty, grow the economy, improve public services and protect the planet.”
Leader of the City of Edinburgh Council Jane Meagher said: “We’re making significant progress at Granton Waterfront, with hundreds of affordable homes underway at both Western Villages and Silverlea.
“I welcome today’s announcement which comes at a critical time, as our city faces an ongoing housing emergency and a severe shortage of homes.
“This funding forms part of a wider funding package that the council and Scottish Government continue to develop, allowing the next phase of development in Granton to get underway later this year.”
