A multi-million-pound plan to develop on the last available parcel of land at City Quay has gone on public display.
Business bosses behind the venture gathered at the Apex Hotel on Tuesday, just metres away from the site, to host the first public consultation on the proposal.
Visitors had the chance to look over detailed drawings and aerial shots of the waterfront location as well as chat to representatives spearheading the application.
The “I”-shaped development is earmarked for vacant land between Thorter Loan and South Victoria Dock Street offering panoramic views of the River Tay and estuary as well as overlooking the stunning V&A museum when it is built.
Set over five floors, the mixed-use build includes space for 46 apartments, a nursery and a 90-bed care home run by the Forfar-based Balhousie Care Group.
Tim Allan, director of the Unicorn Property Group which purchased the site in 2006, said the project would cost approximately £15 million to complete providing a timely boost to the local economy.
“It is the last undeveloped site on the south quay. It is a lovely spot and only around 400 metres from the V&A that’s why we want to build there,” he explained. “Over 200 construction jobs would be created.”
With the construction industry still reeling from the recession and many big names going to the wall, the proposed works appear to be bucking the trend. But according to Mr Allan, it is not the banks that are stumping up the capital needed to fuel the project but rather the contractors themselves. It is the latest way to fund such projects with lending from banks still difficult to come by.
The managing director of the Balhousie Care Group, Graham Ogilvie, says he views the plan as a “long term investment.”
He reckons around 100 jobs would be created through the care home alone, with approximately a further 20 by the nursery.
“It’s delivering a different sort of development,” he said. “It is mixed use and something which is needed in that area.
“Included in the plans is a community hub which will create an environment where people can meet. This will also have a cafe, activity room and place where local clubs can get together.”
Mr Ogilvie went on to say he was excited by the prospect, which, if given the all clear, would mark another significant investment in the city by the company.
“If this goes ahead that will be our third project in the last three years for the city a total investment of £16 million,” he continued.
The private two-bedroom apartments are expected to cost between £130,000 and £150,000. Contractors are expected to begin work on the site towards the end of the year if planning permission is granted.