Drum Property Group plans to create a “vibrant residential, student and visitor quarter” by building a mixed-use facility incorporating a 500-bed student accommodation, a 56-bed hotel, 53 affordable homes, a restaurant, café and retail units.
A planning application for the Stead’s Place site has now been lodged by the developer with current tenants’ leases all coming to an end by October next year.
Writing on the Edinbrugh Evening News Facebook page: Julie Robertson said: “How many hotels and student accommodations can we as a relatively small city cope with?
“Edinburgh council get a grip. We are already bursting at the seams over the Festival period and do not need more hotels, as that equates to more people.
“I love that Edinburgh is a thriving city and welcome tourists, like we always have, but this cannot and should not be at the detriment to the people born and raised in Edinburgh.”
John Cromb added: “How is the business model of hotels/student accommodation sustainable?
“What happens when the tourist bubble bursts, cause it will eventually, we will have empty hotels and empty streets, because no one will be able to afford to live in the city centre.
“This should’ve been social/mid-market and part ownership housing. But then CEC would have to make health and education provision and this I believe are the real reason for the hotels and students are given priority over residential.”
Erin Welsh said: “Only 53 affordable homes but 500 student accommodation. Surely it should be the other way around?”
Valerie Thornton Hunter wrote: “Is there no end to it all... where is the infrastructure to support all this expansion.”
Kevin Robertson chimed in saying: “Just what Edinburgh people don’t need. More hotels and student flats!”
Josslyn Ann Mcneill simply summed up the thoughts of many readers in one word saying: “Fuming!”
Graeme Halkerston commented: “The residents needs are way down the list when it comes to city planning. We are just here to fund the council pay roll. Big multi billion pound developers really get their ear.”
One commenter saw the positive however, with Brian Stewart writing: “A great improvement on what is there.”