Leeds Credit Union supported the recent launch of a new initiative in Leeds to create more affordable housing. Leeds Community Homes launched a community share offer to support the purchase of sixteen permanently affordable homes in the centre of Leeds.
The 16 flats are part of a development by Leeds-based developer Citu, in the newly formed Climate Innovation District, which is a short walk to the centre of Leeds. Leeds Community Homes will keep nine flats for social rental, and sell seven flats at an “intermediate” price – around 2/3 of full market value.
The first homes should be ready to be lived in by January 2018. They are seeking to raise £360,000 to fund the purchase of the homes, and to support some work to develop a pipeline of future projects – so that they can work towards their ten-year goal of being involved in the creation of 1000 permanently affordable homes in Leeds.
Leeds Credit Union are keen to explore how to continue to co-operate with Leeds Community Homes – as clearly many people who save and borrow from us will also be in need of more affordable housing.
The minimum investment in the share offer is £100, and Power To Change have pledged to match all individual investments, up to a total of £100,000.
For more information about investing, please visit www.ethex.org.uk/leedscommunityhomes or www.leedscommunityhomes.org.uk
Leeds City Credit Union is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (FRN 213369).
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