Leader comment: Capital pace of change can be dizzying

There will be a number of developments throughout the city, including on King's Stables Road. Picture: Creative Commons

There will be a number of developments throughout the city, including on King's Stables Road. Picture: Creative Commons

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we live in one of the fastest changing cities in the UK.

The builders are busy turning the site of the old New Street bus station into the centre of a new district of hotels, flats, offices, cafes and bars. Nearby, at either side of the Grassmarket, the India Buildings and old office blocks on King’s Stables Road are set to undergo similar redevelopment. Altogether, around £300 million worth of regeneration work is under way or about to start in the Old Town.

Then there is the small matter of the £850m transformation of the St James Centre, not forgetting the redevelopment of the surrounding streets between there and St Andrew Square, where, guess what, more regeneration work is under way.

The pace of change can be dizzying. The benefits in terms of the new job opportunities alone that come with more than £1 billion of investment in our city are enormous. Our quality of life will be all the better too for the kind of shopping and leisure opportunities that the new St James will bring.

And there is no sign of any let-up. The city, as we reported yesterday, is set to press ahead with plans to attract investment to another 13 sites across the Capital. Granton Waterfront, Waverley Station, Leith Walk and Craigmillar are among the areas identified for further regeneration.

The warnings that a vote for Brexit in yesterday’s Referendum would lead to a downturn in the economy has not discouraged the city from targeting further growth. We must hope that this optimism is well placed.

Investors are increasingly turning their eyes to Edinburgh, recognising everything the city has to offer from a beautiful environment to a fantastic quality of life. Successive referendums and elections have thrown up a lot of uncertainty. Regardless of that, the Capital is better placed than any in the UK outside of London to take advantage of any opportunities.