Over 3,000 new homes for West Lothian
03,450 new homes are to be built at Winchburgh in West Lothian, with the Scottish government claiming it will generate up to £1bn for the economy over 15 to 20 years.
The Scottish government’s Building Scotland Fund is providing a £26.8m loan to help fund the project, as well as a loan to Winchburgh Development Limited, to pay for housing-related infrastructure.
This comes on top of £50m already pledged as part of the City Region Deal for housing-related infrastructure.
The Scottish government is also providing a £15m standby facility to West Lothian Council to support its funding of new schools in the development.
The project is being undertaken by a joint venture between private equity partnership West Coast Capital, which owns Winchburgh Development Limited, and CALA homes.
Finance secretary Derek Mackay said: “As well as being great for wider economic development, over 700 affordable houses, including 400 for social rent, will be built as part of the development which is excellent news for the region”.
West Lothian’s Executive Councillor for Education, David Dodds said: “Winchburgh represents the right development in the right place and will help meet the demand for people looking to find a home for their family or business in West Lothian, which is one of the fastest growing areas in Scotland”.
LATIF North 2019, March 21, The Midland Hotel, Manchester
Local government treasury investment management
