Up to 16,000 new affordable homes are to be built in Edinburgh over the next decade in a project that will create more than 3000 jobs.
Edinburgh City Council’s plan to build 8000 new low cost properties within ten years will be matched by six housing associations.
Representatives joined senior council officials at the City Chambers on Thursday to reveal their support for new housing.
Not-for-profit associations Castle Rock Edinvar, Dunedin Canmore, Hillcrest, Home Group, the Link Group, and Port of Leith will take part in the scheme.
Almost 150 households bid for every council and housing association home available to let in Edinburgh and the city’s population is set to grow by up to 30% over the next 20 years.
Housing leader councillor Cammy Day said: “We all know about the acute shortage of affordable homes in the capital; a shortage that’s pushing house prices out of the reach of those on low to middle incomes, increasing rents in the private sector and creating a cost of living crisis that’s putting real pressure on people across Edinburgh.
“This fantastic joint commitment will see the council and its partners build on their current successes and accelerate house building to provide the increase in affordable homes that Edinburgh so desperately needs.
“This commitment won’t just deliver 16,000 homes – we expect it to generate benefits to the local and national economy of around £4bn, create over 3000 jobs and bring in additional council tax revenue to help fund the delivery of essential services for the people of Edinburgh.”
Alister Steele, from Castle Rock Edinvar, said: “Housing associations operating in Edinburgh are pleased to match the council’s pledge and commit to delivering 8000 much needed affordable homes in Edinburgh.”
Ewan Fraser, chief executive of Dunedin Canmore, said: “The plans unveiled represent an outstanding example of partnership working and we are delighted to announce that as part of our commitment to maintaining and improving communities across the city, we will build at least 1000 good quality, energy-efficient homes in the capital over the next decade.”
The local authority had already pledged to deliver 3000 affordable and low cost homes on 22 sites in the city.