Providing permanently affordable housing
As a Community Land Trust, Leeds Community Homes will create more affordable, sustainable housing, by building new homes and refurbishing empty properties. LCH create housing themselves, and support others to do the same. They aim to be involved in creating 1000 affordable homes in Leeds by 2027.
Leeds Community Homes' business model for this share offer is based primarily around the purchase of sixteen 1 and 2 bedroom flats on the Low Fold development in the centre of Leeds, which forms part of the city’s new Climate Innovation District.
The flats will be available to LCH to purchase at a significant discount, through a developer-financed Section 106 agreement – which allows for the provision of affordable housing. To purchase the homes, LCH need to be accepted onto the Council’s Affordable Housing Framework. They have applied to be on this Framework and a final decision is expected by October 2016. The Council have made clear that they are keen for LCH to be accepted onto the Framework.