Leeds Community Homes launches community share offer to purchase “people-powered homes”

Wednesday, November 2, 2016

Leeds Credit Union supported the recent launch of a new initiative in Leeds to create more affordable housing.   Leeds Community Homes launched a community share offer to support the purchase of sixteen permanently affordable homes in the centre of Leeds.

The 16 flats are part of a development by Leeds-based developer Citu, in the newly formed Climate Innovation District, which is a short walk to the centre of Leeds.  Leeds Community Homes will keep nine flats for social rental, and sell seven flats at an “intermediate” price – around 2/3 of full market value.

The first homes should be ready to be lived in by January 2018.  They are seeking to raise £360,000 to fund the purchase of the homes, and to support some work to develop a pipeline of future projects – so that they can work towards their ten-year goal of being involved in the creation of 1000 permanently affordable homes in Leeds.

Leeds Credit Union are keen to explore how to continue to co-operate with Leeds Community Homes – as clearly many people who save and borrow from us will also be in need of more affordable housing.

The minimum investment in the share offer is £100, and Power To Change have pledged to match all individual investments, up to a total of £100,000. 

For more information about investing, please visit www.ethex.org.uk/leedscommunityhomes or www.leedscommunityhomes.org.uk