Edinburgh Airport unveiled plans to create a massive business and residential complex on the site of its second runway.
The development could stretch over 100 acres across from south-east of the passenger terminal to almost as far as Gogar roundabout.
Construction of offices, homes and industrial buildings on the site could start as soon as next year if the planning permission is approved.
Because of improvements in aircraft technology the airport rarely uses the crosswind runway anymore.
Gordon Dewar, chief executive officer of Edinburgh Airport, said:
“We have long believed that the land around Edinburgh Airport is a valuable strategic asset, from which local communities and the economy should benefit.
“This venture will accelerate that process and we look forward to working with John Watson and his team, and the Scottish government and City of Edinburgh Council, to promote opportunities to put the land to good use.”
John Watson, the airport’s former chief commercial officer and executive of the new development company, commented:
“There is a really great opportunity in the west of Edinburgh, to build infrastructure from which future generations benefit.
“We will be investing significantly in the land opened up by the closure of the second runway and will work with other developers in the area to promote the wider opportunity we believe exists.”
According to The Scotsman, city council leader Adam McVey said: “The west of Edinburgh, which includes the International Business Gateway development site adjacent to the airport, is a key priority zone for the council in terms of attracting inward investment and creating jobs.
“Edinburgh Airport is a major stakeholder in this and we are committed to working closely with them.”