Lewes Community Land Trust held its AGM on July 22nd 2016, where it was noted that costings from Santon are expected soon - figures that will enable the trust to firm up on its North Street Quarter proposals.
This is an exciting time for the land trust as it finalises proposals to secure and market 15 homes for local people on the North Street Quarter development site in Lewes, planning permission for which was granted in December 2015.
The Lewes CLT is supported by The National Community Land Trust Network (//www.communitylandtrusts.org.uk/) who are working with local people to support Urban CLTs in areas where the high cost of market housing makes it unaffordable for people to buy property in their local communities.
Lewes Community Land Trust has been working with Santon and Lewes District Council on a project which will offer shared equity housing on the North Street Quarter scheme for people with Lewes connections who are currently forced to rent on the private market as they are priced out of home ownership by rocketing property values in the town.
Pru Rowntree, chair of the Lewes CLT stated: ‘An initial meeting with potential purchasers on May 19th was well attended, and we were encouraged by their positive reception of our proposal.
The scheme is aimed at local people who have sufficient income to raise a mortgage, but cannot raise enough capital to get into the Lewes housing market. They will be able to buy a percentage of equity pitched to be affordable on local wages, whilst the CLT will hold the remainder of equity.
Properties will be owned by purchasers for as long as they need them, but will not be subject to right to buy. This means that they will be retained as community assets, and will be resold in the future at affordable shared equity prices if occupants choose to move on.
We welcome enquiries from potential purchasers and support from the local community as we develop this project. We hope that it will be the first of many local projects, and are hoping to be able to identify further similar development opportunities in the town in the coming years’.