A study will be launched this summer to consider future growth anticipated at the station, the impact of city centre developments on how people use it, and how the station can contribute towards the city's continued success.
The scheme is being led by Network Rail and the City of Edinburgh Council, who have formed a group comprising of Transport Scotland, VisitScotland, Scottish Enterprise, Edinburgh Chamber of Commerce and other neighbouring property owners.
Alex Hynes, Managing Director of the ScotRail Alliance, explained: "Waverley has seen its footfall more than double from 10 million to over 24 million within the last ten years and estimates suggest that it will almost double again, to 40 million, by 2024. Such a steep increase is a positive indicator of the railway's economic influence on the city and a clear sign that further investment will be required.
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"We are creating additional rail provision within Waverley at present and will continue to seek new ways to create the best railway that Scotland has ever had. However, more trains mean more people and that inevitably adds to the pressure on station infrastructure and the surrounding streets.
"The Waverley Masterplan will help us to coordinate our approach and to tackle some of the issues that an increasingly busy Waverley Station raises"
The group's first aim is to understand how future growth is likely to impact footfall within the station and on the streets outside. An options appraisal will be developed to consider short, medium and long term objectives before wider consultation is undertaken with customers, user groups and other interested parties.
Transport Minister Humza Yousaf said: "I am delighted that the combined expertise and energies of a range of parties have been brought together by the City of Edinburgh Council and Network Rail to create a long-term vision for the station and its surrounding area.
"Edinburgh Waverley is the first impression for many as they arrive in our capital city. It is both a portal to the city and wider Scotland. We've seen the positive difference that the redevelopment of major stations can have economically, socially and aesthetically. Accordingly, I look forward to developments at Waverley with considerable interest"
(LM/MH)
