A Scottish council is on the brink of forming a new housing company aimed at raising property supply for local tenants.
Committee members at Edinburgh City Council will on Tuesday be asked to green light the exploration of plans for a new arms length housing firm, which would develop sites for investors and funders while acting as a guaranteed buyer from developers.
Proposals for Edinburgh Homes build on the region’s affordable housing programme, which has trebled the number of low-cost properties being delivered by housing associations and the council to around 1,500 each year.
Cllr Cammy Day, housing convener, said: ‘We’re already investing a lot of money into building high quality affordable homes across the city, and with our housing association partners, have actually built record numbers in recent years.
‘But we are a growing city and meeting the need for new, good quality, good value homes across all tenures is a top priority for this council.
‘Edinburgh is an attractive and desirable city but people wanting to live here can find themselves priced out of the market. Setting up Edinburgh Homes would provide much needed housing and also bring much needed investment into the city.’