Leeds Community Homes was set up a year ago with the explicit aim of creating more affordable housing in our city. We’re a community benefit society – which means we can raise money through community shares. We’re also able to act as a Community Land Trust for Leeds – meaning we can hold on to land and buildings for affordable use in perpetuity.
Last week we launched our first community share offer – which aims to raise £360,000 to invest in our first project – the purchase of 16 affordable homes on a development in the new Climate Innovation District in the centre of Leeds. We’ll keep nine of the flats for social rental – and sell seven on at around two-thirds of the market value. There will be restrictions on future re-sales that will ensure that the homes continue to be available at below market price.
The response so far has been really positive – with over £15,000 pledged in a week – which will be matched by Power To Change’s Community Shares Booster Fund. Our target of £360,000 is ambitious, but we’re confident that we can encourage people to back our approach to creating more affordable homes.
Leeds Community Homes
Share offer to raise finance for community led social housing. Investment will be matched by the Community Shares Booster Fund
Investment: £100 – £36,000