Funding package supports Edinburgh sustainable residential development

Glasgow-based housing developer Carmichael Homes has started construction on a new 25-flat project in Edinburgh, with support from Bank of Scotland.The firm has delivered 11 developments across greater Glasgow over the past nine years, including sites in Finnieston and Bishopbriggs.Carmichael Homes’ latest venture is a development comprising one to four-bedroom flats on Lanark Road in the capital.The project will feature a green roof to help the building retain water and aid biodiversity, enhanced glazing for added insulation, and an energy efficient boiler system linked to solar panels. To support the development, Carmichael Homes secured a seven-figure funding package via Bank of Scotland’s Clean Growth Finance Initiative (CGFI), which provides discounted lending to help firms invest in sustainable projects.Construction of the new flats is expected to take 16 months, with completion expected by December 2022. The business currently has three live developments across Glasgow and Edinburgh and is expecting a further three projects to begin next year – all of which will have a focus on sustainability.Carmichael Homes is supporting Scottish businesses during the development, using products from Wick-based Ashley Ann Kitchens, Aberdeen-based Stewart Milne and many more locally sourced companies.