A 673-room hotel development off Princes Street is set to get a \u00a375,000 cut in payments towards tram infrastructure after an error in calculation.<\/p>\n
Hotel chain Zedwell won permission to redevelop the former Debenhams on Princes Street in March, pending a legal agreement on financial contributions to mitigate the hotel\u2019s impact.<\/p>\n
But in a report before councillors at the Development Management Sub-Committee next Wednesday, officers say that the required contributions had been miscalculated.<\/p>\n
In Edinburgh, developers are required to pay to mitigate the impacts of their projects, with funds often being directed towards running and improving various public services.<\/p>\n
Zedwell\u2019s redevelopment was originally charged \u00a3237,648 for contributions towards tram infrastructure, but this has been revised down to \u00a3162,112 \u2013 a saving of \u00a375,536 for the firm.<\/p>\n
Council papers said that the miscalculation resulted from a mix of under-billing the firm for the amount of retail space in the development and over-billing for the amount of hotel space.<\/p>\n
They have recommended that councillors approve the new, reduced tram contribution from the developers to allow the project to proceed to its next steps.<\/p>\n
Zedwell plans to refit the former department store with a mix of normal hotel rooms and \u201ccapsule\u201d rooms, and introduce retail spaces on the Rose Street side of the ground floor.<\/p>\n
Some 328 bedrooms are normal, with some having no exterior windows \u2013 while 345 will be capsule-style rooms, with a bed taking up virtually all of each room\u2019s floor area.<\/p>\n
The Debenhams store was built behind 109-112 Princes Street, and opened in 1978, with an entirely new concrete structure built behind the four building facades.<\/p>\n
Most of the existing structures were destroyed, but much of 112 Princes Street \u2013 the former Conservative Club \u2013 were retained.<\/p>\n
A historic roof in the former smoking room of the club is set to be kept, but will be covered up with a false roof to help the room meet modern health and safety guidelines.<\/p>\n
Bedrooms along the front of the hotel will be built in a range of sizes, to ensure they match up with the windows in the existing facade.<\/p>\n
Zedwell\u2019s planning application said the windowless rooms making up the majority of the hotel\u2019s bedspace would fit the \u201cextensive areas of dark floorplates\u201d within the building.<\/p>\n
Within the 1970s-era concrete portion of the building, a lightwell will be built, allowing for some rooms with windows to be constructed away from the street.<\/p>\n
A new sixth storey will be added to the building, adding a rooftop bar and three outdoor terraces. While not visible to Princes Street, they will offer views of several landmarks.<\/p>\n
By Joseph Sullivan Local Democracy Reporter<\/p>\n