Scottish government announces £42m funding package for first phase of 3,500-home Granton Waterfront regeneration

The Scottish government has announced a £42m funding package to support the construction of the first phase of the 3,500-home Granton Waterfront scheme.

Scottish housebuilder Cruden Homes in partnership with the Scottish Government and City of Edinburgh Council will deliver 847 net zero homes, including 387 affordable units alongside a new primary school and space for 14 businesses.

It is part of a wider £1.3 billion programme to regenerate Granton Waterfront, Scotland’s largest brownfield regeneration project expected to deliver 3,500 new homes and the country’s biggest coastal park.

The Scottish government will provide City of Edinburgh Council with up to £2.1m per year over a 20-year period. An additional £16m will be brought through its contribution to the Edinburgh and South East Scotland City Region Deal, which involves a total investment of £1.5bn across six local authorities to improve productivity and tackle deprivation.

>>See also: Green light for £1.3bn coastal regeneration in Edinburgh

>>See also: Plans submitted for first phase of £1.3bn new Scottish coastal town

Payment is conditional on the local authority meeting targets related to the delivery of walking and cycling routes, green spaces, construction skills training for local secondary pupils, investment in non-profit organisations and establishing a fund to reinvest developer contributions in jobs and businesses in Granton.

Kate Forbes, deputy first minister, said the scheme would leverage a further £220 million in private sector investment in houses and business space.

Jane Meagher, City of Edinburgh Council leader, said: “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.”

Work on the scheme’s first phase is due to start early next year .