St Clements (Photograph by London CLT)
The Community Land Trust as Developer
As a not-for-profit Community Benefit Society, London CLT develops multiple projects across London that provide affordable housing to local people. London CLT operates on a revolving fund basis and also raises seed and development funding from community share issues. Its first completed project at St. Clements (pictured) was in co-operation with a private developer and provided 23 homes at one-third of area median income. The homes were provided on a discounted market sale basis and can only be sold on to new families at a similar affordable level.
London CLT is now directly developing an 11-home community-led affordable development on an infill site in Lewisham and has agreement to further develop 107 homes on five sites. In addition to receiving land from local and state authorities, London CLT also bids on sites.
For each project, there are specific allocation criteria and considerations, with the overall allocation policy being based on a set of five guiding principles: fairness, transparency, simplicity, legality and scalability.”
Projects: 1 inhabited project (23 homes), 1 beginning construction (11 homes), 5 with written agreements to include CLT on the site (107 homes).
Members: 2500 resident, community and stakeholder membership
Workforce: 3 Full-Time, 4 Part-Time staff
Operational budget: £146k (2018)