Published: 2nd Oct 2019

YorSpace, a community land trust (CLT) in York, has raised £100,000 to develop affordable housing in the city, just 11 days after launching a share offer. The CLT plans to build 19 permanently affordable homes at Lowfield Green in the York suburb of Acomb. The land will then be leased to residents via a specially created Mutual Home Ownership Society (MHOS), which will generate income to repay the shares. Residents will commit to nurturing an active community and will also share communal spaces such as dining and kitchen areas, a laundry room and even cars to promote social cohesion. The homes themselves at Lowfield Green will be built from low carbon, bio-based construction materials, lowering their carbon footprint and making them more energy-efficient to run. Investors earn a competitive rate of return of 2.5% after making an investment between £250 and £47,500 and funds can be withdrawn after three years. … (To read the full article, subscribe below)