Leeds Community Homes - OFFER CLOSED

Who benefits

This share offer's primary target community is people in Leeds who are in need of more affordable homes. Through providing more affordable homes to rent and to buy, Leeds Community Homes will serve people who currently find it difficult to buy or rent a decent, affordable home in the city.

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.

The community

Leeds City Council recognises the impact that unaffordable housing can have in the city. There is increasing pressure on social housing waiting lists, and concern about the quality of rented accommodation at the lower end of the housing market in Leeds. People who are already in poverty can be pushed further into poverty by living in poor quality, hard to heat homes.

A lack of affordable housing to rent and buy can also impact on the city’s ability to attract and retain talented young people who will set up businesses and create employment in the city as Leeds grows.

Leeds Community Homes' primary target community is people in Leeds who are in need of more affordable homes. Through providing more affordable homes to rent and to buy, LCH will serve people who currently find it difficult to buy or rent a decent, affordable home in the city.  They will encourage people in housing need in Leeds to become members of Leeds Community Homes (people can become members of the community benefit society for £1) but they do not anticipate that many people who are currently in housing need will invest in their share offer.

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