Leeds Community Homes is an innovative people powered revolution looking to change Leeds dysfunctional housing market, which is currently struggling to meet demands in Leeds for affordable homes to rent or buy. As a Community Land Trust, Leeds Community Homes plan to build 1,000 people powered homes in Leeds by 2028. These new homes plan to be affordable to local people both now and for future generations. The homes will also be sustainably build and environmentally sound. To do so, Leeds Community Homes are thinking creatively about ways to raise finance and using innovative techniques to build homes which last, including opening a community shares offer, which successfully raised £360,000 from people all over Leeds and the UK.
How did they do it?
The first step towards achieving their ambitions, relied on raising money through community shares. Leeds Community Homes set a goal to raise £360,000, and successfully achieved that. This money will fund the purchase of 16 permanently affordable flats on an eco-development in the centre of Leeds and develop proposals for future projects to build more affordable homes
Power to Change invested £9,307 to help them get the share offer ready to go live and then match funded the first £100,000 raised in community shares.
The share offer was a catalyst, as it raised awareness in Leeds of a community-led approach to housing. Leeds Community Homes anticipate opening more share offers in order to raise the finance to deliver fantastic community homes.
“When people are involved in creating houses they become more than bricks and mortar – they become homes and communities that people love to live in”