The local economy will benefit from a new housing development in Cammo Meadows to the tune of £240 million, builders claim.
This is a joint venture between CALA Homes (East) and David Wilson Homes East Scotland who are about to construct 655 new houses of all types, including colony houses and flats.
There are also 164 affordable homes in the mix, including discounted sale, social rent and market rent homes.
The builders commissioned economic consultancy Lichfields to conduct research into the likely economic boost to the local area. The researchers say that there will be 90 full time jobs created in constructions with a further 85 in the supply chain. The construction value is £218 million and the economic output is assessed at £112 million.
Along with the planning permission for the development the builders are bound to contribute £10.3 million to improve schools, leisure facilities and infrastructure. The additional council tax when the development is complete will amount to £1.6 million per annum. Other benefits include the spend in local shops both during and after construction.
Philip Hogg, Sales and Marketing Director at CALA Homes (East), said: “We’re committed to building a new community in the capital as the need for housing increases.
“At CALA we strive to deliver homes which residents can be proud of – homes which complement and enhance the existing community as well as the development itself and this is what we are excited to deliver with Cammo Meadows.
“It is crucial that the wider benefit of us delivering this development is felt. We appreciate that our neighbours must live next to a building site and are grateful for their patience and understanding.”
Anne Ross, Sales Director of David Wilson Homes East Scotland, said: “This is a real opportunity for the city on many fronts. Our collaboration will not only bring homes, but also jobs and much needed investment in schools and leisure facilities. Our vision is to add to the very fabric that will make this a prosperous community for people now and for countless generations to come.”