 The site was redeveloped 2013-2014 with a single new building, largely in hotel use.In the 1990s the Old Town Renewal Trust in conjunction with the City of Edinburgh developed an action plan for renewal 

An area directly to the north of the Canongate has been earmarked for a large redevelopment project named Caltongate.The scheme involves building of a mix of residential, hotel, retail and office buildings on the site of the former SMT bus depot in New Street, developing the arches under Jeffrey Street, redeveloping other surrounding sites and creating a pedestrian link from the Royal Mile to Calton Hill.