Located in Chesser, the scheme will include 293 BTR units, 100 affordable homes and a 406-bed PBSA scheme.

Watkin Jones is now in discussions with a local registered provider to procure and operate the affordable housing.

The scheme will include the refurbishment of the most important elements of listed structures around a publicly accessible square in Chesser, linked to the site’s historic use as an agricultural market.

The development is expected to be completed in 2029.

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“Following the Scottish government’s declaration of a national housing emergency in 2024, our new development helps to address Edinburgh’s housing needs across several tenures by delivering high-quality homes in a highly accessible location,” said Iain Smith, planning director at Watkin Jones.

“We are not only relieving pressure on the city’s housing market but also contributing to a more sustainable city.

“Importantly, the development will also protect the most important elements of historic buildings for future generations and ensure the public has access to Heritage Square for years to come.”