£38.4m loan backs Granton Waterfront regeneration

Edinburgh’s Granton Waterfront regeneration has received a £38.4 million loan from the National Wealth Fund to support infrastructure work for the first phase of the development.

The funding, announced on 11 September 2026, will be provided to the City of Edinburgh Council. It will support land remediation, road and utility infrastructure, and public-realm work needed before further development can take place. The National Wealth Fund said the investment is also intended to support further private-sector funding into the site.

Granton Waterfront is one of the largest regeneration projects in Edinburgh. The wider plans cover around 3,500 homes, alongside business space, commercial opportunities, cultural and leisure facilities, a school, a health centre, and new coastal parkland.

Phase 1 covers 847 homes

A separate contract award published on the same day provides another indication of the scale of the first phase.

The City of Edinburgh Council has awarded a development agreement covering 847 homes, with a procurement value of approximately £126.5 million excluding VAT. The award follows a pre-development period that began with Cruden Homes in 2023.

The National Wealth Fund loan is for the enabling infrastructure around this phase rather than the full cost of constructing the homes.

Plans previously approved for Phase 1 also include commercial units, public and open space, active-travel routes, and provision for a primary school and low-carbon heat network.

Wider £1.3bn regeneration continues

The wider Granton programme has an estimated gross development value of around £1.3 billion and is expected to be delivered over a number of years.

Council plans envisage a mixed-use coastal neighbourhood with homes alongside space for businesses, creative organisations, and community facilities. The site also forms part of plans for an expanded coastal park and improved walking, cycling, and public transport links in north Edinburgh.

For businesses, the regeneration creates activity at several levels. The immediate programme involves construction, infrastructure, and associated supply-chain work, while the longer-term plans include new commercial and business space within the waterfront district.

The £38.4 million loan moves the first phase further from planning into delivery by funding the groundwork needed before more of the site can be developed.