A new report has revealed that an Edinburgh housing project is set to boost the local economy by almost a quarter of a billion pounds.
CALA Homes (East) and David Wilson Homes East Scotland will build 655 new homes at the new Cammo Meadows development in north west Edinburgh, near both Barnton and Cramond.
Of that total, 164 homes will become a mix of discounted sale, social rent and mid-market-rent properties.
Specialists from economic consultancy Lichfields have outlined the likely extent of the boost to the surrounding area. According to the report, each year of the six-year build process will create 90 direct full-time construction jobs, as well as a further 85 throughout the supply chain.
The consortium’s work will deliver a £218 million cash injection through the £106 million construction value and £112 million worth of economic output. There will also be £10.3 million as part of S75 developer contributions to improve schools, leisure facilities and infrastructure, while the local authority is estimated to receive an extra £1.6 million per year through additional council tax revenues.
Philip Hogg, sales and marketing director at CALA Homes (East) said, “We’re committed to building a new community in the capital as the need for housing increases. At CALA we strive to deliver homes which residents can be proud of – homes which complement and enhance the existing community as well as the development itself and this is what we are excited to deliver with Cammo Meadows. It is crucial that the wider benefit of us delivering this development is felt. We appreciate that our neighbours must live next to a building site and are grateful for their patience and understanding.”
Anne Ross, sales director of David Wilson Homes East Scotland added, “This is a real opportunity for the city on many fronts. Our collaboration will not only bring homes, but also jobs and much needed investment in schools and leisure facilities. Our vision is to add to the very fabric that will make this a prosperous community for people now and for countless generations to come.”