Major milestone for Lowfield Green
The end of January this year saw an important milestone for Lowfield Green, our first affordable homes project. When we launched our first Community Share Issue at the end of last year, we were hoping fervently to raise our minimum target of £365,000. Imagine our excitement when we hit that goal just before Christmas - a great end to 2019 for us! The Share Offer period closed on the 31st January, having raised an amazing £422,000.
We will be eternally grateful to all our investors - nearly 200 of you - who stepped up and showed that you share our confidence in building the first environmentally sustainable, forever affordable homes in York. Every penny of this will make a real difference to York people of all ages who will, for the first time, get affordable homes for life.
So what happens next?
The money raised from the Shares will enable us to complete the purchase of the land at Lowfield Green from City of York Council. This will happen very soon, once the access road and services are installed by their contractors. We aim to be on site around the middle of June 2020, with homes ready to move in to in Summer 2021. For the first time, thanks to this investment, things are starting to feel real.
We will also start to look at other sites across the City with our eye on developing more community-led homes over the next few years. We are already talking to community groups interested in York Central - could we all work together to develop a co-owned neighbourhood there? More on that soon.
Stay with us...
The real work starts now: We still need to keep funds coming in to pay for ongoing professional help to get Lowfield Green up and running, as well as support for developments. You can donate anytime via our website here
Soon you'll be hearing more about Lowfield Green Mutual Home Ownership Society (MHOS), the resident led co-op which will be managing the construction phase before moving in and then managing the homes in future.
In the meantime, we hope you can celebrate with us this turning point for Yorspace. Thanks again for your support and investment - please keep it coming!