Nationwide Foundation backs more housing co-ops in Wales

The Nationwide Foundation is providing £130,000 to the Wales Co-operative Centre to create more housing co-operatives. The funding will support 40 co-operative groups in Wales over the next three years. The Wales...

The Nationwide Foundation is providing £130,000 to the Wales Co-operative Centre to create more housing co-operatives. The funding will support 40 co-operative groups in Wales over the next three years.

The Wales Co-operative Centre received an initial grant from the Nationwide Foundation and the Welsh government in 2014. This was used to complete three new co-operative housing schemes, with four other co-operative housing schemes nearing completion and six further schemes at various stages of development.

The centre will use the new funding to bring legal, financial and business organisation experts to local co-operative housing projects.

Chief executive Derek Walker said: “The people and communities of Wales have grasped with enthusiasm the opportunity for co-operative housing.

“Many were previously not aware of this alternative housing option but they have quickly understood what’s on offer – the chance to develop ready-made communities, to take responsibility for their homes and to steward their neighbourhoods for future generations in ways that has not happened before in Wales.”

The continued funding from Nationwide Foundation is crucial to continuing this work, added Mr Walker.

He said: “The Welsh Co-operative Housing programme has shown us that co-operative housing is flexible to meet many needs and any tenure. We want to ensure that co-operative housing provides a significant proportion of the new 20,000 new homes to be built during this Welsh government term.”

Related: Friends set up innovative housing co-op model to get foot on property ladder

Leigh Pearce, the Nationwide Foundation’s chief executive, said: “We are delighted with the success of the first phase of our funding which has enabled Wales Co-operative Centre to provide much-needed support to communities that want to take the lead in how their affordable housing is provided.

“A clear demand for co-operative housing has emerged and we welcome the continued commitment from the Welsh government which, alongside our funding, will ensure that this important model of community led-housing continues to flourish in Wales.”

The three new co-operative housing schemes are Home Farm Village Housing Co-operative, Taf Fechan Housing Co-operative and Ty Cyfle, Torfaen. Four others are nearing completion: Old Oak Housing Co-operative, Loftus Village Association, West Rhyl Co-operative and Shakespeare Gardens Housing Co-operative.

Loftus Village Association is responsible for the day-to-day running of 19 of the 250 affordable homes in Loftus Garden Village.

In August, it welcomed its first resident, Jane Karagianis, who said: “I have been involved with the co-operative since January and am privileged to have been appointed as their nominated chair.

“Residents have already formed a close bond, helping and advising each other throughout the process. I believe we have a collective commitment and passion to creating a caring and trusting community that will flourish and everybody will be proud to be a part of.”

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