What is a Community Land Trust (CLT)?
Community Land Trusts (CLT) are non-profit, community-based organisations run by volunteers, which provide permanently affordable housing for local people and can provide other community-owned assets such as workspaces, pubs, and shops.
They enable access to the housing market for people who would otherwise be unable to afford their own homes. They do this by separating the land value from the property value, ultimately providing properties which require a lower mortgage, or, (in some cases) lower rental repayments, allowing residents to build up equity towards their next purchase.
If you would like to find out more about developing a CLT in Cheshire, please contact Tony Clare.
Background of CLTs
The Community Land Trust model for provision of affordable housing was developed in the US in the 1960s and is a commonplace approach across the States where over 5,000 homes have been provided by CLTs. This approach to affordable housing has gathered momentum in the UK recent years with 135 CLTs nationally.
The development of Community Land Trusts in the UK has cross-party support and is seen by many as a valuable aspect of community development as well as part of the solution to affordable housing. CLTs are community-led and community controlled with all members of the community in which a CLT is developed having the opportunity to become involved in its operation.