A quarter of the planned homes will be affordable – social rent, mid-market rent and ‘golden share’
Edinburgh council has given the green light for a 655-home development to be built in the city by David Wilson Homes and Cala Homes, which is owned by pensions giant Legal & General.
The homes, 164 of which will be affordable, are to be built on the Cammo Estate in the north-west of the Scottish capital.
The development will comprise a mix of one-, two- and three-bedroom apartments, terraced homes and detached family houses.
The tenure mix will be social rent, mid-market rent and “golden share”, where properties are sold at 80% of their open market value to buyers who meet certain criteria.
A spokesperson for the Cala/David Wilson consortium said: “We must thank the local community first and foremost for engaging with us throughout, helping us to shape the final proposals which have evolved over the past two years.
“We fully understand how important the junctions at Maybury and Barnton are and traffic was a key concern for many people at the outset.
“We feel the improvements made through planning gain contributions will benefit the wider community and those commuting in or out the city.”
L&G took full control of Cala Homes in March last year, after its Legal & General Capital arm paid £315m to Patron Capital Partners and Cala’s management team for the 52.1% of the company it did not already own.
The purchase valued Cala Homes at £605m.
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