Oxfordshire Community Land Trust (OCLT) has announced the opening of its first affordable housing development.
To celebrate this milestone, OCLT hosted an open day and celebration for investors, supporters, contractors, and the fortunate new tenants who have been selected, from the Vale of White Horse housing list, to move in and form a cooperative for the continuous ownership and maintenance of the site and those who are eligible to live there – for life.
The open day provided an opportunity for all those involved in the building and funding of the project to come together and celebrate this achievement. OCLT is proud to have provided much-needed affordable housing for the local community, describing it as a “wonderful achievement”, and looks forward to building more homes in the future.
The development has become a reality thanks to a mortgage by the Ecology Building Society, grants from the Future Oxfordshire Partnership and Vale of White Horse District Council, and local residents buying shares in the scheme.
The completion of OCLT’s first affordable housing development marks a significant milestone in its mission to provide affordable housing for the local community. This accomplishment is a testament to the hard work and dedication of everyone involved in the project.
The non-profit organisation funded the £2 million construction of Crofts Court, an eight-flat development in Botley, located near Oxford. With an asset lock in place, the homes are strictly reserved for those with a local connection to the parish of Cumnor and who require affordable housing.
The trust is now seeking new members to become owners and help finance future projects as they plan for future development.
Oxfordshire CLT Ltd (OCLT) is a Community Benefit Society registered in 2006 (previously known as an Industrial and Provident Society). Its mission is to hold land in trust to provide permanently affordable homes across Oxfordshire.
Its rules include an “asset lock” so that these homes can never be sold on the open market, subject to the provisions of our mortgage, and will remain affordable in perpetuity. OCLT became a Registered Provider in 2021.