National Housing Trust boost for Edinburgh
Published: 04 August, 2011
SCOTLAND: The first contracts to deliver affordable homes in Edinburgh have been signed under the National Housing Trust initiative.
Developer, Places for People, will deliver 188 homes in Lochend North and Madelvic 8. The 126 homes in represent the largest contract signed to-date between a developer, Scottish Futures Trust and a local authority.
The homes are the first for the City of Edinburgh being built as a result of the National Housing Trust initiative.
The money borrowed by the Council to help fund the purchase of homes under the initiative will be underwritten by the Scottish Government.
Councillor Paul Edie, housing leader for the City of Edinburgh Council said: "I'm delighted that Edinburgh has blazed a trail by securing the largest contract so far for affordable homes through the National Housing Trust initiative. This is a significant achievement given the current economic climate and shows the firm commitment by this Council to give the affordable housing market and construction industry a much-needed boost.
"I hope that the other developers we are currently in negotiation with will soon follow suit as the National Housing Trust initiative is an innovative way of tackling the shortage of affordable homes not just in Edinburgh but around the country. Everyone knows more needs to be done and it's good that the public and private sector are working in partnership on this initiative."