Edinburgh to get nearly 500 affordable homes funded by new Visitor Levy.
Edinburgh Council intends to build around 500 affordable dwellings with monies obtained from the Edinburgh Visitor Levy.
The Visitor Levy, which was formally agreed upon at the beginning of the year, will impose a 5% tax on overnight stays in the city’s hotels, guest houses, bed and breakfasts, short-term rentals, and campgrounds, with a maximum stay of five nights. The scheme, which will go into effect in July of next year, is expected to raise £100 million over the first three years.
This week, councillors approved plans for the £5 million Housing and Tourism Mitigation Fund, which could assist construct 472 affordable houses between 2026/27 and 2028/29, including three new build complexes on Fountainbridge, Meadowbank, and Coatfield Lane in Leith.
Around 361 of them would be social rental homes, while approximately 111 would be mid-market rent dwellings. Jane Meagher, the head of the council, said:
“Many of those working in our city’s thriving visitor economy and cultural sectors are often unable to find affordable housing in the city, making it difficult for them to live close to where they work.”
Furthermore, the council has declared a housing emergency, with an increasing number of people presenting as homeless and insufficient social housing to meet this demand, forcing many residents to use temporary housing, often in bed and breakfasts or hotels, diverting vital capacity away from what should be tourist accommodation.”
This is the first fully agreed-upon use of the Edinburgh Visitor Levy monies, however the investment is subject to approval by the City of Edinburgh Council at its budget meeting on February 26.
If it proceeds, the housing, homelessness, and fair work committee will get an annual report on the delivery programme’s performance.
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