London Community Land Trust

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URL = http://www.londonclt.org/

Description

1. David Robertson:

"The London Community Land Trust is nearing completion of CLT homes in the space of the derelict St Clements Hospital in Mile End, East London and will be the UK’s first CLT located in an urban area (there are over 225 in rural areas). The trust is a non-profit open for membership to anyone who lives and works in London, with currently over 1,000 members. A number of private developers competed for the 4.5 acre parcel of land and it was only after previous failed attempts to secure the St. Clements site that the trust was eventually successful, partnering with a developer but maintaining a commitment to a community-led design process.

The London CLT is governed by rules that allow it to function outside of typical market pricing. It created a separate organization that is in charge of renting out the apartments each year and subsequently reinvesting the profits into the surrounding community. Under the London CLT model, all homes must be owned by the CLT in order to ensure affordability and these homes are only available to local residents. Rent rates must be decided by local income rather than traditional market rates.

The website of the London Community Land Trust explains that the campaign for a Community Land Trust first emerged around plans for the Olympic Park area, and claims the Olympic authorities have still not guaranteed the number of affordable homes initially promised during the bidding process." (http://www.resilience.org/stories/2017-03-29/community-land-trust-models-housing-coops-around-world/)


2. By Anna Bergren Miller

"London Community Land Trust (LCLT), the capital city’s first such organization, originated in negotiations between the activist group now known as Citizens UK and the 2012 Olympic bid team. When the bid team suggested a pilot community land trust project, the newly-formed LCLT (until 2015, the East London Community Land Trust) worked with the Mayor of London and the Greater London Authority to incorporate community land trust housing into a scheme to redevelop St. Clements Hospital, shuttered since 2005. In fact, LCLT has secured an agreement to build at least 20 community land trust homes on the East Wick and Sweetwater neighborhood, and is supporting similar efforts in Lewisham." (https://www.shareable.net/sites/default/files/SharingCities_FullBooktoPDF_v2(1).pdf)


Status

By Anna Bergren Miller:

"Results:

• LCLT allocated the homes to income-qualified applicants from an original pool of 700. The homes will be sold at approximately one-third of their open market value: one-, two-, and three-bedroom homes at £130,000, £182,000, and £235,000 ($168,000, $235,000, and $304,000), respectively.

• Resale is restricted to LCLT-approved prospective buyers, with home sellers to recoup their original investment plus a portion of appreciated value as contracted with LCLT. Other community benefits include sustainable architecture, green spaces and play areas, community space in a refurbished St. Clements building, and proximity to public transit and Cemetery Park.

• The larger St. Clements project, comprising 252 new homes built by Linden Homes with JTP Architects (architect and master planner) and the Greater London Authority, has received several awards, including Overall Winner and Best Scheme in Planning at the National Housing Awards 2014." (https://www.shareable.net/sites/default/files/SharingCities_FullBooktoPDF_v2(1).pdf)


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