A MULTI-MILLION pound project to regenerate part of Edinburgh's historic Old Town, which was ravaged by a devastating fire four years ago, has been unveiled.
The £40 million vision revealed by the capital's top developers and architects is set to turn the empty Cowgate site into a bustling commercial hub, attracting international companies and creating nearly 300 jobs.
Homes, offices, shops and restau
rants are all planned to fill the vacant 12,500 sq m site in a plan developers say will strengthen the city's communities in the heart of the Old Town.
The project, named SoCo, because it lies between South Bridge and Cowgate, is expected to take three to four years to complete. It also includes proposals for a hotel, a nightclub, an arts centre and cinemas to replace the venues which were razed when the flames sparked by a faulty fuse box engulfed the area.
No-one was injured in the fire which ripped through the city centre, but the blaze left what council leader Donald Anderson described at the time as a "wounding gap" in the historic town.
Award-winning firm Whiteburn Projects are now ready to submit a planning application for the site after fighting off competition from 25 other developers.
"We are seeking to give the area a new buzz," said John Shepherd, chief executive of Whiteburn.
"At SoCo, thrilling 21st century architecture will bring together all the levels and layers of this intricate and energetic part of the town.
"It will pitch you right into the heart of everything Edinburgh has to offer and kick-start the regeneration of this well-known but disconnected quarter."
Mr Shepherd said the project is ready to be rolled out after a deal was sealed to buy out eight former venue owners.
However, of all the previous tenants, only La Belle Angele Nightclub is expected to return to the site.
"It has been a very long struggle since the fire devastated the place, but after four years of fighting we are the only business to be reinstated in the contract," said Hafid Mahboubi, who established the nightclub 17 years ago.
Mr Shepherd said work will start on the site as soon as planning permission is granted.
Jonathan Sutton, agent for the developer, said Whiteburn Projects were also looking for prospective tenants either in the UK or abroad. He said: "We have already been approached by international groups in France, the US and the Netherlands who are interested to invest in a living, evolving entity."
Architects Allan Murray, who designed The Tun complex for Whiteburn Projects, said the proposed new building will act as a "catalyst" in the regeneration of the area.
He said the designs would seek to link the Cowgate and neighbouring South Bridge and Chambers Street for the first time since the 19th century.
