The development at Ocean Point 2, being progressed by property developer S Harrison Developments, will comprise residential and purpose-built student accommodation, along with commercial uses/co-working and amenity space.
The over £80 million development will add to the ongoing transformation of Leth's Waterfront through delivering a vibrant and sustainable neighbourhood.
Neighbouring Ocean Point 1, the development of the brownfield site will provide two buildings and comprise a mix of build-to-rent homes (BTR), including apartments specifically for families, alongside purpose-built student accommodation (PBSA), delivering a truly mixed community.
In total, 112 BTR homes are proposed, providing a mix of studio, one-bed, two-bed and three-bed apartments to meet a range of housing needs. A quarter of these are three-bed apartments designed for families, and a quarter of the apartments will be affordable housing.
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There are 404 PBSA beds on offer, split between cluster accommodation and studio bedrooms. The former accommodation is intended to be a mix of five and six bedrooms.
Commercial space/co-working and amenity space are also proposed as part of Ocean Point 2, offering fantastic active frontage to Ocean Drive, with greatly enhanced public realm encouraging active lifestyles.
In addition to delivering homes, the new development will deliver significant local spend, amounting to some £5.3 million by residents and visitors annually, supporting an estimated 60 retail and leisure jobs. It has been estimated that 325 jobs will be created directly in the construction of the overall scheme.
The development neighbours Ocean Terminal, which is undergoing a £100 million transformation, delivering a mixed-use development comprising residential, commercial, retail and hospitality.
The extension of the tram line between Edinburgh and Ocean Terminal also provides connectivity between the development and Edinburgh city centre within 20 minutes.
Harrison has a long pedigree of working in the city, ranging from delivering the Malmaison at St Andrew Square, to student developments at Westfield and Gorgie, and hotel development at Osborne House, Haymarket.
A spokesperson for Harrison Developments commented: "We are delighted that we have received a green light for our planning application. This will serve to deliver much-needed homes and student accommodation to an area which is undergoing a rapid transformation, delivering a truly mixed sustainable neighbourhood.
"Regenerating a current brownfield site, this development boasts excellent transport links, especially with the new tram line, and will deliver a significant investment into the local area.
"We look forward to continuing to engage with the local community and the Council as we seek to deliver this development."
Planning and development consultancy Turley provided planning services for the project with CDA acting as architects.
