In January 2017 we successfully raised £360,000 through a community share offer to create our first sixteen People Powered Homes, as part of Leeds’ emerging Climate Innovation District, which is just a stone’s throw from our Hub.
How our new homes will make a difference
Our homes are being built Citu, the local developer behind the Climate Innovation District. The affordable homes have been made available to us through a Section 106 agreement - an agreement between the developer and the Local Authority to provide affordable housing.
We’ll rent out nine of our first sixteen homes, and sell seven. All the homes will be permanently affordable – with the rental homes being rented at a “social rent”, whilst the homes we sell will be available at around 2/3 of full market value. As a Community Land Trust we will ensure that all the homes will be permanently affordable.
We expect our first homes to be available during 2019. For more information, see our share offer prospectus and business plan.
We are currently working on plans for creating more People Powered Homes – so that we can make progress towards our long term goal of being involved in creating 1000 permanently affordable homes. The latest news is available on our blog.