Statement
Leeds Community Homes is sad to advise the Armley community that, with regret,
we are unable to proceed with our proposals to create affordable housing plans at
Mistress Lane.
The reasons for this are largely financial: increases in the cost of borrowing;
unprecedented increases in building costs and uncertainty in the construction
industry; and a disappointing response to our share offer, which reflected the difficult
financial challenges faced by all with the cost-of-living crisis. Ultimately with these
financial constraints, we were unable to present a viable business plan to the
Regulator of Social Housing in order to obtain access to the housing grant we
needed to build the scheme.
We have therefore concluded that we are unable to bring the project forward at the current time.
We recognise that this will be a heavy disappointment to local people, who have unfailingly supported our plans and played an active role in helping to shape them. We have spent over 6 years in planning this project and we share that disappointment; more than that, we regret raising hopes for the community and not following through on them.
Leeds Community Homes is committed to creating affordable community-led housing for people in Leeds and we are not walking away from Armley. We will continue to look to work in the area, and we have hopes that we can revisit Mistress Lane in a little while, when the financial circumstances are more favourable. But in the short term, the current plans will not go ahead.
We would like to extend our thanks to Leeds City Council for their ongoing partnership and assistance; to Armley ward councillors for their unwavering support for the project over the years; and local people who have contributed to our plans and shared our dream.
Please address any questions to info@leedscommunityhomes.org.uk.Jimm Reed
CEO, Leeds Community Homes
