India Quay development to boost local economy by Â£30m
DEVELOPERS behind the transformation of a former city brewery site insist their plans will boost the local economy by more than Â£30 million over the next three years.
Fresh images show the wide-scale regeneration of the old McEwan’s brewery plot in Fountainbridge, with £200 million proposals to build flats, shops and businesses now lodged with the council.
More than 400 homes and apartments would be built as part of the scheme, alongside a new home for Edinburgh Printmakers – the artists’ studio and gallery – and a hotel.
Councillor Gavin Barrie, chair of developer EDI Group, said the plans would bring an “under-used site back into community use” and deliver “innovative living opportunities for local residents and workers at a time of need”.
He added: “These latest economic impact figures highlight how important India Quay will be for growth, investment and job opportunities in the city, especially in the creative and cultural industries and in the retail, tourism and hospitality sectors.
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“India Quay will be a quality addition to Edinburgh’s iconic built environment and create a vibrant destination to attract additional visitors to the Capital.”
Bosses say the first phase of the scheme will create 250 jobs in Fountainbridge – rising to 1250 when the whole site has been developed. Around 140 jobs would be generated in construction.
EDI’s wider masterplan, meanwhile, will deliver the largest build-to-rent scheme in Scotland, providing “professionally managed” flats straight to the rental sector. Working with Edinburgh-based 7N Architects, the developer’s detailed residential plans include a range of one, two and three-bedroom “hi-spec apartments”, as well as 112 affordable homes.
Around 2607 square metres of retail space are also set to be created, including a fresh-produce market, cafés and restaurants.
Fountainbridge previously held two of the Capital’s industrial powerhouses in McEwan’s and the North British Rubber Company, where experts believe the first ever Wellington boot was created.
Lynn Smith, EDI head of development, said: “With more graduates and city workers looking for flexible city living opportunities in light of mortgages being tightened after Brexit, the build-to-rent model is a positive solution and India Quay will cater for this need.
“We feel Edinburgh offers the most exciting opportunities for this market in the UK. The site’s close proximity to Haymarket Station and the expanding Exchange office district also make it a suitable location for investors in search of a unique proposition.”
Ewan Anderson, partner at 7N Architects, said: “It feels very satisfying to see the project reach this important milestone.
“7N Architects has been developing the proposals for the site with EDI over the last four years and the place-making principles established with the local community in the masterplanning workshops at the outset have all been carried through to detailed stages.
“It is rare to see a major development in Edinburgh cultivate such strong spectrum of support and goodwill.”