This summer has been an exciting one for Community Land Trusts (CLTs), as two valuable sources of financial support were launched: the National CLT Network’s CLT Start Up Fund, and CAF Venturesome’s second CLT Social Investment Fund. Launch events in London and Liverpool highlighted the burgeoning opportunity for individuals and communities to address their local housing challenges and create affordable homes for their community by establishing a CLT.
Our Support for CLTs
CAF Venturesome has supported CLTs since 2008 through the first pilot CLT Fund, which has helped 24 CLTs to construct 268 affordable homes.
This summer, we launched a second fund, the CLT Social Investment Fund, through which we hope to support CLTs to build 350 affordable homes in areas of England and Wales that have an acute shortage of affordable housing. The Fund provides loan finance to support new and established CLTs work up their proposals and develop affordable homes, from detailed technical work to secure planning permission, through to the final construction. The Fund is supported by the Charities Aid Foundation (CAF), Esmée Fairbairn Foundation, Tudor Trust, the Nationwide Foundation and a number of individual philanthropists. We work closely with the CLT Start Up Fund, managed by the National CLT Network, which offers grant finance to support emerging CLTs as they first get started.
The CLT Social Investment Fund will be open for applications shortly and we are currently accepting Expressions of Interest, which are described in further detail here.
The Launch of the National CLT Network
The National CLT Network launch in June at the Houses of Parliament attracted an audience of 130 funders, journalists, policy makers, charities and CLTs who came together to hear from two MPs and others about the opportunity that CLTs have to offer.
The National CLT Network provides support to CLTs through several exciting schemes including the CLT Start Up Fund and the See It and Believe It programme, both of which are described in further detail here.
Following the event the attendees visited the Brixton Green CLT where they witnessed how CLTs work on the ground. Specifically, Brixton Green CLT is aiming to redevelop Brixton’s Somerleyton Road, a meeting point between edgy Brixton tube and noticeably less salubrious Moorlands Triangle. Their plans include creating affordable housing, a community and arts space and theatre, food growing, a health centre and a gym. The scheme is bringing local people together, providing community facilities in an area where land for people is underutilised – aiming to provide more affordable housing in the heart of central London.
The Launch Event at Liverpool
The second launch event took place in Liverpool FC, Anfield, Liverpool. Attendees of the launch heard the inspiring stories of Homebaked CLT and Granby 4 Streets CLT.
Homebaked CLT started in 2010 and is based in Anfield, Liverpool, an area of significant housing dereliction and deprivation. There have been several failed attempts to regenerate the area, so now residents are taking matters into their own hands. The CLT has brought an old bakery back into use, and is working closely with young people and local residents to develop the scheme. It is also working to develop 4 housing units and other community facilities from vacant properties in the town. They also make very good sandwiches!
Also in Liverpool, Granby 4 Streets CLT is developing an area that has been subject to various regeneration projects and programmes since the late 1960s and at its heart lie four streets that have been scheduled for clearance for over 20 years. Residents living in those four streets decided to take action and set up a CLT. The CLT will create and renovate up to 10 homes that will give local people affordable homes in an area that they have the chance of helping to create. Granby Four Streets members are made up of local residents in Granby and local community organisations and businesses.
To date, the majority of the 170 CLT projects have been in rural locations, but urban communities across the country are collaborating to improve their local environment, and to give people the opportunity to create more affordable housing.
The Urban CLT project, administered by the National CLT Network, will support 20 demonstration Urban CLT projects across England and Wales with grants of up to £10,000 to get them off the ground, as well as provide peer learning and resources. Urban CLTs often have to negotiate complex political environments and fight off fierce competition for land from well-resourced private rival commercial developers. The Urban CLT Project aims to address these particular challenges and give CLTs an equal footing when trying to change our cities and neighbourhoods for the better.
For further information on our CLT II Fund please contact our Investment Manager Sandra Halilovic on firstname.lastname@example.org.