New public square for the Royal Mile is unveiled by developers
A NEW public square is planned for the Royal Mile in Edinburgh as part of a £150 million scheme in the Old Town World Heritage Site.
Developers say a major milestone in the New Waverley project, rebranded after the separate Caltongate project by a different company at the same site collapsed, is to be reached next month when work begins on the Royal Mile link.
New developer Artisan Real Est ates Investor s unveiled plans that include a 46-apar tment Adagio Aparthotel which will face directly on to the Royal Mile, behind a retained facade of the C-listed Sailors Ark building. The hotel will overlook the new £6.5m public square, which is a focal point designed to “create a vibrant central hub” for New Waverley.
It also includes shops, restaurant and bar facilities on the ground floor of the hotel.
Construction work on the initial development phase of two Whitbread hotels with frontages on to East Market Street and Cranston Street is currently dominated by twin tower cranes on the site.
Work on the two hotels — a 127-room Premier Inn and a 121-room Hub by Premier Inn — began in November 2014, with a completion date set for mid-2016.
Clive Wilding, Artisan’s project director, said: “The breakthrough to the Royal Mile marks a significant stage in the evolution of New Waverley and its transformation of Edinburgh’s Old Town and the entire city centre area.
“We are now seeing New Waverley’s true scope and potential being delivered before us, a broad sweep of an historic part of the city integrating Edinburgh’s busy New Street and Market Street with Waverley Station and the Royal Mile.
“The new public square, with stunning views over Calton Hill, will form a vibrant hub for this flagship mixed-use development and its surrounding area, creating an entirely new destination for Edinburgh.
“With it, we are creating the very heart of our development — a vibrant and pedestrian-friendly urban centre mixing open public spaces with high-quality homes and offices, as well as restaurants, shops and hotels linking directly to the world renowned street.”