Scotland’s deputy First Minister Nicola Sturgeon officially launched the Shawfair development, which will be built on the south-east outskirts of the city.
She said: “Shawfair is an impressive development with significant benefits to the local economy and community. Creating nearly 1,000 full-time jobs during the construction phase.”
The Shawfair partners, house builder Mactaggart & Mickel in joint venture with Buccleuch Property, expect to get underway later this year.
It is expected to take at least 15 years to complete.
The scheme has been on the drawing board since 1997 and will include rail links on the new Borders line.
The 350-acre Shawfair development was originally a joint venture between both Midlothian and Edinburgh Councils and the Miller Group, though Miller, as lead developer, exercised a “get out” clause and withdrew in 2009.
Edinburgh and Midlothian councils offloaded their stakes in the development in 2011 to the consortium of developers for an up-front payment of £6m and future profit share estimated to be worth up to £20m for each of the councils within the 15-year development cycle.
Andrew Mickel, of Shawfair LLP, said: “The Shawfair project has long been in development. Our vision is to build a new self-sufficient community supported by a vibrant town centre with public amenities such as schools and a healthcare centre, transforming the area.
