PLANS have been submitted for an Edinburgh city centre development described as being ‘one of the largest’ to come forward in a generation.
Ediston and Orion Capital Managers are behind the blueprint for the New Town Quarter development, which will feature new homes, offices and a hotel at the 5.9-acre former Royal Bank of Scotland site in Edinburgh’s new town.
Research from UK planning and engineering consultancy, The Waterman Group, found that the operational phase of the development would create more than 700 full-time jobs whilst generating annual gross added value economic uplift of £34.4 million to the local and regional economy.
The findings continued by listing that the construction phase alone would create a further £27.7 million gross added value at a regional level, creating 60 jobs.
Welcoming the planning submission, Ross McNulty, development director at Ediston said, “We firmly believe that now is the right time to move forward with our proposals and deliver further significant investment in the heart of the nation’s capital. We have worked hard with key stakeholders and the local community to deliver proposals that are consistent with planning policies and our aspirations to create a new high-quality addition to the local area and the city.
“Our proposals for New Town Quarter will help speed economic recovery in Edinburgh. Research highlights the significant investment benefits that this high-quality development would bring to the Edinburgh economy, as well as helping to meet the pressing need for high quality new homes and office space. I would like to thank all of the organisations and residents who gave their time and feedback to the consultation process. It has made a huge contribution to refining and improving the proposals. This is a large and complex site, and we wanted to take the time to get it right.”