Some of the UK Government’s Levelling Up funding will help the plans to redevelop the first phase of the development around the Granton Gas Holder.
The regeneration of Granton Waterfront making this area a site for public use is a £1.3 billion project to turn the area into a new coastal town centre with housing and other public buildings.
The project is planned to take around 15 years providing 3,500 net zero carbon homes, a primary school, health centre, commercial and cultural spaces with sustainable transport and a new coastal park. The council recently agreed the outline business case to develop the area and Granton Station will be developed into a creative work space as well as Edinburgh Palette moving into the vacant warehouse recently used by Hidden Door Festival.
The gas holder, which was used as the backdrop to the highly successful music and arts festival, is now illuminated every night in a partnership with Edinburgh College.
The UK Government announced more than £172.7million of investment in Scotland with the first round of awards in two new funds.
The £4.8 billion Levelling Up Fund, administered over four years, will invest in infrastructure that improves everyday life across the UK, including regenerating town centres and high streets, upgrading local transport, and investing in cultural and heritage assets.
Eight projects in Scotland will receive a share of the £172 million fund, representing 10 percent of the total awarded in the UK. And £16.482 million of funding will come to Granton.
Council leader Adam McVey said: “We are pleased to see this funding to help support our vision for a new Granton waterfront. Our plans will enhance the City’s coastline and deliver sustainment development with culture, green space and local education and employment at its heart. Restoring the gas holder for public use will undoubtedly help attract future investment to regenerate the area and the Council is committed to continue to work with both The UK and Scottish Governments as well and other key partners in delivering the maximum benefit for our communities.”
Depute leader and lead on Granton Waterfront regeneration Cammy Day said: “This funding is very welcome and demonstrates the momentum and progress we’re making to transform used brownfield land into a new sustainable new neighbourhood its residents will be proud of. It will be one where people live in affordable environmentally friendly homes, have excellent transport and active travel links and access to lots of open and green space, arts, sports and culture. In a partnership with Edinburgh College, we’ve already made sure this B-listed gas holder is a beacon of light for the area by lighting it up while work is underway on the wider regeneration of the area.”
Scottish Conservative and Unionist MSP for Lothian, Miles Briggs, also welcomed the UK Government injection of over £16 million to help start the Granton Waterfront regeneration project.
Briggs said: “Rishi Sunak has delivered a major investment for the wider Edinburgh region.
“This £16 million will not only restore the historic B-listed Granton gas holder, it will also kickstart the Granton Waterfront regeneration.
“This is an ambitious urban development project, which will deliver sustainable economic growth and jobs in the Edinburgh area.
“With the UK Treasury now delivering this funding, this project can get off to a flying start and start benefiting local communities.
“This investment shows how the UK Government is driving economic growth, here in Edinburgh, and right across Scotland.”