The project is being led by Ladybank Developments, a joint venture between GSS Developments and London & Scottish Property Investment Management.
The development will provide 153 studio apartments along with amenities including study spaces, gym, cinema, private dining facility, roof terrace and shared gardens. It will regenerate a 0.16-hectare brownfield site that has lain derelict for many years.
No fossil fuels are to be used to operate the building, supporting the council’s move to net zero carbon by 2030.
A spokesperson for Ladybank Developments said: “We are thrilled to see this exciting project given the green light by the committee. This regenerates an urban brownfield site that has sat vacant for many years to create a high- quality sustainable accommodation for students, meeting the growing demand in the city.
“The location is near to neighbouring Haymarket Station and its associated tram and bus stops and is highly accessible to the city’s universities and colleges. We look forward to starting this exciting development immediately and continuing to work with the council and the local community to deliver it in a considerate manner.”
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