- Leeds Community Homes (LCH) was set up as a community land trust in 2015. The aim was to come up with a range of ways to create permanently affordable housing in the city. It set itself the ambitious target of being involved in creating 1000 affordable community-led homes over the next ten years
- LCH made a start in 2016 by launching a community share offer – to raise funds to acquire 16 permanently affordable homes in Leeds’ emerging Climate Innovation District as part of a Section 106 Agreement[PD1] . The development – by local eco-developer Citu - is thought to be the largest sustainable development in the UK
- The community shares issue raised £360,000 in just three months, with the first £100,000 raised backed by Power to Change with a £ for £ investment
- Over 270 individuals and organisations invested in the community share issue – with two thirds of those investors coming from Leeds
- Ecology Building Society was expected to provide cash flow and top-up loans to bring the scheme to fruition, but due to the success to the community share issue this was not required. Investors money will go into passivhaus standard homes and will offer, after a while, a 2% return and surpluses. New investors will also allow for those who need to, to withdraw their investments, not immediately, but over time
- Leeds Community Homes has the full backing of Leeds City Council.
“The City Council has been supportive of the development of Leeds Community Homes, recognising the potential it has in the community and custom self-build sector. We are keen to see it succeed and will continue to offer our support.” John Statham, Head of Housing Partnerships and Growth, Leeds City Council
Published in March 2018
