London Mayor Ken Livingstone has announced the creation of London’s first Community Land Trust in association with Tower Hamlets Council. The scheme will identify land for a mixed development of three hundred market and affordable homes.
The London Development Agency will work with the Council to undertake a tender process to find a delivery partner to develop the pilot project.
Under the Community Land Trusts model the trust owns the land in order to provide benefits to the local community with the primary aim of providing affordable housing and helping people into home ownership.
Central to their operation is the separation of the ownership of the land and restrictions on the resale price of the properties on it so that they cannot be sold at prices beyond the reach of the local community.
Mr Livingstone said there was “such a desperate need for affordable housing in the capital” that is was necessary to “explore every avenue to ensure we continue driving up delivery wherever we can.”
“I believe that Community Land Trusts can complement our other initiatives and we will work hard with Tower Hamlets Council and the community towards making this first pilot a success and ensuring that the community plays a key role in solving our housing crisis.”
“I would also like to thank London Citizens for their continued support for more affordable housing and look forward to working with them on the development of this community land trust model. ”
Tower Hamlets Council’s Lead Member for Housing and Development Rupert Bawden said the Council was “very pleased to announce that it will be working in partnership with the London Development Agency” on the scheme.
Stefan Baskerville from London Citizens praised the Mayor’s commitment to the Tower Hamlets project which he said would bring “real hope” to those in the local community who “have seen the chance of owning a home slip from their grasp”
“What we’re asking for now is local authorities and other landowners to get on board by releasing land to London’s communities. Together, we can bring dignity to thousands of low-paid workers by offering the chance to own their own homes.”