Up to 1,000 more Build to Rent homes planned at Harbour Gateway
A Build to Rent project on Edinburgh’s Western Harbour is planning to expand as residents are welcomed into the latest phase of the development.
Harbour Gateway, the largest project of its kind in Scotland, was made possible by innovative National Housing Trust funding provided by City of Edinburgh Council and Scottish Futures Trust on behalf of the Scottish Government.
Around 234 mid-market homes have been delivered by Forth Ports, with plans being put forward for close to 1,000 more.
The vision has introduced a number of key innovations, as the project team seeks to deliver the best possible outcomes for residents. Rents for residents go up by no more than CPI and a deposit-free option is being trialled, as is a dedicated residents’ portal for communicating on community issues.
In another first for Scotland, residents can take advantage of a new app being pioneered by Rettie & Co. that enables them to get enhanced credit ratings from paying rents. Currently, only mortgage payments qualify with credit referencing agencies.
Charles Hammond, group chief executive of Forth Ports, said: “I am pleased that the first phase of Western Harbour has been completed, bringing much needed affordable homes to Leith and the city more broadly. I would like to thank everyone that has supported the project and hope we can add a further 1,000 homes in time.”
Matthew Benson, director, development services at Rettie & Co, said: “We are delighted to have reached a key milestone in this ambitious project and are looking forward to the next phase. These homes bring the total number of Build to Rent properties with which Rettie & co. has been involved to 785.
“The vast oversubscription for homes at Harbour Gateway illustrates the level of demand for this kind of high quality housing in Edinburgh against a backdrop of chronic undersupply. Harbour Gateway also sets the standard for the collaborative way in which public and private sector financing deals can be combined to the satisfaction of clients and investors, while delivering high quality homes for residents.”
Harbour Gateway resident Natalie Barrett said: “With the cost of moving already being high, it’s really helpful to be able to rent deposit-free, and we are also looking forward to having the opportunity to buy in five years and feel supported to do so.”