Leeds Community Homes (LCH) is continuing its fundraising efforts for its ambitious plan to build 34 affordable and sustainable homes in Armley, Leeds.
The optimum target for the latest share offer, hosted on Crowdfunder, is £500,000 but, the team adds, “we can make the project work with £300,000.
“If we managed to raise as much as £750,000 it will help reduce our long-term debt and help us put more benefits into the project to support the community.”
LCH says the £6m housing scheme – which will be low carbon and set in green space – will be “in an area of Leeds where they are urgently needed and that has been overlooked by other developers.”
The project will tackle the problem of increasingly unaffordable rents in Armley, which have been exacerbated by the cost of living and housing crises.
By promoting eco-friendly living through a housing community that is committed to energy efficiency, the scheme will also tackle climate change, it adds.
The houses will be build “using Passivhaus principles … to achieve 70% reduction in CO2 compared to building regulations, with high airtightness and effective levels of insulation … The energy approach also includes solar panels, air source heat pumps and mechanical ventilation with heat recovery systems for all dwellings”.
LCH adds that the project will support the community-led-housing movement with a model that can be replicated around the UK, “creating quality and affordable homes for the next generation”.
Costs up to planning and tender have been met by grants from Locality, Power to Change and the Community Housing Fund. Construction period will draw on grants from Homes England AHP and Leeds City Council Commuted Sums, alongside loans and share capital.