Designed by Sutherland Hussey Harris, West Burn Lane received the 'Andrew Doolan Best Building in Scotland Award 2015'.
The accolade was presented by the Royal Incorporation of Architects in Scotland (RIAS).
A shortlist of 12 projects was drawn up, with the winner receiving a cheque for £25,000 at the ceremony in the National Museum of Scotland.
The award was presented by Culture Secretary Fiona Hyslop and Mrs Margaret Doolan.
Judges said the residential and commercial development had been 'expertly woven' into the area, and despite its modern aesthetic, 'acknowledged the historic street pattern and scale of its special context'.
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Willie Watt, PRIAS, said: "The work of architects can be transformative, not simply of places, but of people's lives. This shortlist testifies to that and the worthy winner is a great building of the current era which will hopefully contribute to a more enlightened approach to our historic townscapes."
The projects shortlisted for the Doolan award were:
• Arcadia Nursery, Edinburgh (Malcom Fraser Architects)
• Dalmunach Distillery, Moray (Archial Norr (Inverness Studio))
• Highland Steading, Blairgowrie (Marcus Lee/FLACQ and cameronwebster architects)
• Lamb's House, Edinburgh (Groves-Raines Architects Ltd)
• Laurieston Transformational Area, Glasgow (Page\Park Architects and Elder and Cannon Architects)
• Maggie's Lanarkshire, Airdrie (Reiach and Hall Architects)
• The Mill, Scottish Borders (WT Architecture)
• Regency Dormer, Edinburgh (Konishi Gaffney Architects)
• Rosefield, Edinburgh (A449 LTD)
• The Shields Centre, Glasgow (Anderson Bell + Christie Architects)
• Theatre Royal, Glasgow (Page \ Park Architects)
• West Burn Lane, St Andrews (Sutherland Hussey Harris)
(LM)
