Leeds Community Homes (LCH) has eight days to run on a share offer to create affordable and sustainable homes in an Armley, Leeds.
LCH says the area is marked by high rents and the need for affordable homes has been overlooked by other developers.
It is looking to raise £300,000 to create a sustainable, affordable community of 34 new-build homes.
It says the move will help tackle “the cost of living and housing crises by creating permanently affordable rental homes in Armley, Leeds, where rents are increasingly unaffordable”.
The homes will be energy-efficient, the co-op adds, helping the fight against climate change, and will created a replicable model for quality and affordable homes around the country.
Investments in the share offer provide an annual interest of up to 5% (subject to withdrawal limits).
“As with other major UK cities, Leeds has been negatively affected by the housing crisis,” says LCH, “with many families finding themselves priced out of rental homes in the area, creating a negative knock-on effect on the local community and exacerbating the problems caused by the cost of living crisis. Since 2015, Leeds Community Homes has championed people-powered homes in the city to combat the issue.”
In the run up to the share issue launch, LCH set up an Armley Stakeholders group for people who are interested in getting involved or supporting the project. This could be as potential residents, or as a member of the wider community who has an interest in getting involved with community consultation and being part of the design process for the communal shared areas and outdoor spaces.
“We are also keen to hear from people who are interested in helping to shape how the community will work,” it added. “There are also potential opportunities to evolve into the resident management association, and the possibility of training and work opportunities during the build to learn new skills.”
Click here for details of the share offer, which closes on 30 November