A new in-house model for developers and investors is to be created in Edinburgh.

The new 'one stop shop', which will retain the flexibility to work through external companies and joint ventures, will impact upon the Council's arms-length development company (EDI) and associated companies Parc Craigmillar and Waterfront Edinburgh Limited.

The move is being made following a review of existing operational arrangements which discovered the delivery of required regeneration projects, including new housing for the city, would be more efficiently delivered through an in-house model.

Cllr Gavin Barrie said: "The Council has acted decisively to put new plans in place to ensure that the delivery of key developments and regeneration projects can be sustained and accelerated. 

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"This decision will allow the Council's in-house team to focus on its strategic plan to deliver much needed private and affordable housing for Edinburgh, including the delivery of 8,000 new affordable homes in the next decade that has been matched by social landlords in the city.

"I'd like to thank all the staff at EDI and related companies for all their hard work over many years and their continuing commitment that ensures their experience will be built upon in the future."

Eric Adair, Operations and Finance Director at EDI, added: "EDI has a long track record of successful development in the city, starting with Edinburgh Park over 25 years ago. Crucially though, the property market has changed and these new arrangements will mean that the regeneration work in Craigmillar and Granton will now have a much greater weight behind it and should progress faster.

"Everyone is extremely proud of what we have achieved and the positive legacy EDI will leave. In the meantime we remain firmly focused on finishing our current developments like the hotel on Market Street, which will be a wonderful addition to the architecture of the Old Town."

A transitional period will begin to ensure existing projects continue as planned, while discussions are taking place between clients and stakeholders.

(LM/MH)