Murrayfield tackles housing slump
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August 7 2008Up to 200 affordable homes are to be built in the vicinity of Murrayfield Stadium after Duddingston House Properties shelved plans for private flats.
The developer will now proceed in partnership with Dunedin Canmore Housing Association to provide a mixture of shared equity properties and homes for rent upon the derelict former First Group bus depot at Westfield Avenue.
Duddingston House chief executive, Bruce Hare, said: "At the moment, no housebuilders can get hold of the cash. They are not interested in looking at any development because of the mortgage market and the bank lending isn't available for them.
"With housing associations, their bank debt is arranged over a much larger time period and they do have funding available now.
"The big difference is that this will deliver housing where it is needed."
A new planning application will outline provision for workshops and studio units for business start ups. An additional cycle path would provide access between Gorgie and the proposed Murrayfield tram stop.
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