29/07/10
Boost for Affordable Housing Market in Edinburgh
Edinburgh City Council have revealed that it plans to take part in the National Housing Trust(NHT), a programme set up by the Scottish Government to “deliver new homes for mid market rent (usually 80% of full market rent) across the country”.
Under this scheme the council would borrow funding with the Scottish Government underwriting the loans to eliminate the risk to local authorities in lending funds to the scheme.
Already eight developers have expressed an interest in building homes in Edinburgh through the NHT. The council claims that up to 600 affordable homes could be built which would provide a timely boost for local businesses and a struggling construction industry.
Source: Edinburgh City Council & The Scotsman