Hundreds of new homes being built in Edinburgh in bid to boost affordable housing
Hundreds of new homes are being built in Edinburgh in the latest phase of a scheme to boost affordable housing.
Construction is under way on a 234-home development at Western Harbour, Newhaven, as part of the National Housing Trust (NHT) initiative.
Under the scheme, developers are appointed to build a specified number of affordable homes on land they own.
The homes are bought by a local partnership company which includes the developer, local council and Scottish Futures Trust (SFT), and then let to tenants at affordable rents for up to 10 years before being sold.
Almost 900 homes are to be built in the capital under the initiative, with more than 400 already delivered by the City of Edinburgh Council.
The NHT model was originally developed by the Scottish Government and SFT with more than 2,000 homes now approved for construction across Scotland.
Social Justice Secretary Alex Neil said: The contribution from innovative financing approaches, such as NHT, using government guarantees, loans, grant recycling and new sources of private funding is substantial and growing.
Edinburgh has wholeheartedly embraced the NHT, the first guarantee-based model for housing in the UK, as one that can help ease the city's housing pressures.
People in the capital will have access to a quality home at an affordable rent and the NHT model allows them to save for a mortgage whilst staying in the home that they may be able to buy.''
Councillor Norman Work, from the City of Edinburgh Council, said: The council has committed over £100 million for NHT in Edinburgh and this will deliver almost 900 affordable homes throughout the city.
Edinburgh has a shortage of affordable housing and this 234-home development will make a significant contribution towards the regeneration of Western Harbour and creating an integrated sustainable community.''
The waterfront development is led by the City of Edinburgh Council, SFT and the Forth Ports Group and is being built by Hart Builders.