Site plans have been developed to meet the needs of residents, including features like shared outdoor space and insulation to the highest standard making the houses affordable and efficient to heat.
An innovative mutual home ownership model will provide residents with secure equity while guaranteeing the houses stay permanently affordable.
Our £475,000 community share offer will support development while providing an ethical investment opportunity.
As a resident you’ll join an active and supportive community with access to shared facilities as well as your own private home for life.
The lack of affordable housing in York needs to be tackled urgently. Our new model will create permanently affordable homes which form an essential part of the solution.
We’re building high-performance homes designed on passive solar principles and highly insulated, reducing the power they consume and making them cheaper to run.
We’re committed to using natural & low carbon building materials, helping to pioneer the shift towards a full decarbonisation of homes and communities.
By embedding fairness and cooperation in all our decision making, we’re creating homes that put community inclusion and cohesion at the heart of their design.
Our share offer is hosted by Ethex, a recognised ethical investment platform, so you can be assured that a trusted third party is holding your money securely.
We advise all potential investors to read our share offer document and business plan, which can be found on the Ethex site.
To invest, head to our page on the Ethex site, and look for the apply for shares button.
Mutual Home Ownership (MHO) is a new form of home ownership with affordability at its heart.
People living in MHO properties pay a deposit and make monthly payments under the terms of a long lease. In making payments, they accrue collective ownership of a cooperative society.
Ownership is long-term and secure. If a resident wishes to leave, their lease and occupancy rights are transferred to a new incoming member, and their accrued equity in the society is returned to them.
By dealing in equity shares rather than ownership, the property is held outside of the market, and the affordability created is recycled from one generation of occupants to the next.
The model creates a new way of owning equity in the value of residential property. Although relatively new, the model is tried and tested.
Investments are at risk and people considering investing should read the business plan in full to i) understand these risks and ii) understand the strategies YorSpace have put in place to minimise them. Only by doing so will you be able to determine whether the investment is suitable for you.
Our business plan is available on the Ethex website
Anyone who wants to be involved in creating community-led, not for profit housing in York can invest.
By investing, you'll become a shareholder member. There is no geographic, income, experience or other types of qualifications necessary to become a shareholder member of YorSpace.
As a Community Benefit Society there is only one type of YorSpace membership and this gives every member equal voting rights. Therefore each shareholder only has one vote regardless of how many community shares they own.