Support for 6,000 build-to-rent properties included in the scheme
Edinburgh council has announced a £2.5bn plan to build 20,000 affordable homes within the next decade, while helping the construction of around 6,000 build-to-rent properties.
Funded by borrowing against its council housing rental income, it would see 10,000 homes completed by 2022, with the remainder in place by 2028.
It has already granted planning for more than 3,100 homes to meet the initial target, with 1,700 further approvals expected this year and 6,700 more in the pipeline.
The council will build around 500 homes for mid-market and market rent, which it will sell to its subsidiary private rental company, Edinburgh Living.
Councillors will also support the delivery of up to 6,000 homes by the private build-to-rent sector. This would see an investment of £900m in the local economy.
Developers of these homes will be required to provide affordable housing, but this could be delivered through unsubsidised intermediate rent products.
The developer would retain ownership of the whole scheme and have to guarantee that the properties would be rented at an intermediate level for a minimum of 25 years.
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