Project 1 : Little Hemphay
Beer CLT's initial project was to provide seven affordable homes in the village. This project developed very quickly and efficiently using innovative funding via loans, grants and donations.
Its aim was that some homes would be sold as part-equity properties while others would be rented out by Beer CLT. This funding also meant that all seven dwellings could be affordable homes at 80% of the prevailing market prices and safeguarded for people with local connections living and working in the area.
It was hoped that this model could lead the way for future building projects and prove to be a viable alternative to council or social housing within the village.
The new homes from the initial project were completed and new owners and tenants moved in from February 2015.
Beer CLT is now addressing the first re-allocation of one of these purchased properties and the first re-allocation of a rented property to a new tenant, continuing to ensure that the properties are safeguarded for people with local connections. All sales and rentals of properties are to maintain the goal of being at 80% of the prevailing market prices at the time.
This project has proved that the Beer CLT model can deliver affordable housing successfully for the benefit of the local community.