Work due to begin in new year on capital’s ‘urban village’
City lights: Springside will fill a gap site
Work will begin early in the new year on an ‘urban village’ that will emerge on a former brewery-owned site in Edinburgh.
Developer and housing operator Moda Living has secured planning permission for the final phase of its £215 million build-to-rent Springside development at Fountainbridge.
Designed by CDA, the scheme will provide 476 homes with 13,000 sq. ft. of internal amenities, including communal lounges, health and wellbeing facilities plus roof terraces and a private dining room, as well as fully managed communal gardens.
There will be 15,000 sq. ft. of ground-floor retail and leisure space, centred around landscaped public squares, creating an ‘urban village’.
Residents will also benefit from a tech-enabled, hotel-style approach to service, with around-the-clock on-site concierge and a facility to report faults and organise events with neighbours.
Moda and joint venture partner Apache Capital acquired the site, which included 48 existing homes, in March 2017 from property company Grosvenor Great Britain and Ireland. It was one of the largest property transactions in Scotland after the Brexit referendum.
Together, Moda and Apache Capital have a £2 billion development pipeline of 7,500 city centre rental apartments including three under construction in England.
Moda aims to be on-site at Springside early next year, creating up to 400 jobs during construction as well as up to 20 full-time staff from the on-site Moda management team and new retail premises.
Springside is Moda and Apache Capital’s second scheme in Scotland, with the JV having purchased the former Strathclyde Police headquarters in Glasgow in October 2016. The £122m development will see the complex transformed into 433 rental apartments. Demolition is under way, with building work due early next year.
Tony Brooks, co-founder and managing director at Moda Living, said: “Planning approval for the last phase of Springside brings us one step closer to changing how people rent in Edinburgh.
“We are committed to delivering this landmark scheme despite the current political climate as it provides much needed high-quality rental homes that will help support the city’s long-term growth and further encourage employment and student retention.”