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Deputy First Minister Kate Forbes has announced £42 million will be used to help build more than 800 new homes in Edinburgh.
The fund is part of a £1.3 billion project to regenerate Granton Waterfront, Scotland’s largest regeneration project of a former industrial site.
Ms Forbes said the funding for the country’s biggest low-carbon housing development showed the Scottish Government’s commitment to tackling the housing and climate emergencies.
The £42 million fund will be split between up to £2.1 million payments over 20 years. Some £16 million has also been committed to the first phase of the project through the Edinburgh and South East Scotland City Region Deal.
Work on the site is expected to start early next year, and will feature 847 net zero homes, including 387 affordable homes, a new primary school and space for 14 businesses.
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The wider Granton Waterfront project will ultimately deliver 3,500 new homes, space for leisure facilities and Scotland’s largest coastal park.
Ms 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 £220 million 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.
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“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.”
Edinburgh Council leader Jane Meagher said: “I welcome this funding to help us deliver the first phase of this hugely significant £1.3 billion 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 wellbeing, 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.”
