A planning application for ‘high-quality student-led residential development’ has been lodged by property developer, Summix Ltd.
Located in the Canongate , adjacent to Old Tolbooth Wynd and the Canongate Kirk, developers say the 91-bed development will serve to regenerate what they regard as a neglected and underused location within the heart of the Edinburgh World Heritage Site.
Adjacent to the new Waverley Development the mixed use building will be a contemporary state of the art development comprising of 91 student units in a mix of clusters and studios together with a community space, student common areas, a laundry, cycle parking and bin stores. There is provision for access but car parking is not provided on site.
Developers say this will be the final piece in the jigsaw related to a sensitive site in the World Heritage Site and Old Town Conservation Area, drawing on the existing fabric of currently neglected buildings which are at the end of their economic life.
In addition, developers say that the new scheme will address the increasing demand for student accommodation in the city as student bed provision in Edinburgh remains below average compared with competing student cities across the UK. Full-time student numbers across Edinburgh projected to rise by 14 per cent to 2021/2022.
It has also been estimated that the students from this development will generate c. £840,000 in additional expenditure on items such as food, clothes and eating out.
Stuart Black from Summix commented: “We are delighted to submit this application for high-quality student accommodation which will serve to regenerate this rather neglected part of the Old Town through careful re-development.
“Great attention has been taken to implement a design-led approach which delivers a final piece of the jigsaw in this World Heritage Site and Conservation area.
“The development also serves to address the increasing demand for student accommodation, fulfilling the ambitious growth plans of universities in the city, which are key drivers of the economy. It also serves to reduce pressure on the private housing market as well as delivering a substantial amount in additional expenditure into the local economy.”