Bridport Cohousing to launch common house fundraising campaign as construction of its 53 homes is set to begin
The construction of 53 affordable eco-homes is well on the way to start and homes are due to be completed in early summer 2022.
The infrastructure on Bridport Cohousing's site by Bridport Community Hospital - which will make up the neighbourhood called 'Hazelmead' - is now almost complete and it won't be long before timber frames get delivered and houses start to appear.
However, a cohousing neighbourhood would not be cohousing if it did not have a common house and the raising of funds to build it and pay for two guest bedrooms is the next challenge for Bridport Cohousing.
Funding the homes has been achieved by getting various national and local development grants in place and finding a partner housing association - Bournemouth Churches Housing Association (BCHA) - which is building the homes for social rent and some shared ownership. These will be for leasehold sale at 30 to 75 per cent of open market value.
Members who are able to buy a home at 80 per cent have started a buy off plan and exchange of contracts has already happened for 11 of them.
A spokesman for Bridport Cohousing said: "Because the membership is made up of people who are needing affordable homes, there is no money available from people to 'chip in' for the common house - we have to find a way to get the money together ourselves and have come up with the plan to offer loan stock [stock issued as a collateral against a loan].
"This is a way of raising money that has been successfully used by housing co-ops and we feel is the right fit for our campaign, which will be launched to the public in the new year."
Bridport Cohousing has successfully raised money from the wider community before. In 2018 it raised £250,000 in a few weeks in order to buy the phase two land.
The spokesman added: "We were blown away by the response and encouragement from the public and are confident that we will be able to raise another big chunk of money so that we can tie up the construction contract, enabling us to complete the common house in time for us to begin moving into our new homes."
The membership of the group is made up of people who live in and around Bridport.
The spokesman said: "We come from all walks of life - single mums with toddlers and teenagers, families with children who have special needs and elderly singletons who still have a very active interest in helping out in the community.
"Some are employed, some are full-time 'volunteers', some are gardeners, boatbuilders and therapists, some are local councillors and some run their own business.
"What we all have in common is true grit, courage and belief that what we are building together will benefit not only ourselves, our children and future generations of residents, but also the wider community in and around the town, and possibly much wider than even that.
"It has taken almost 12 years to gather the skills, the knowledge and the money to make the cohousing project happen, and indeed it is happening.
"Through the darkest hours of 2020, a bright light has been shining at Hazelmead. Our land is being transformed from a tree bordered field to terraces of beautiful eco-homes with car parking around the edges, giving us car free streets and a space at the centre for our common house.
"Watch this space as we organise and plan our fundraising over the next few months and make our common house, the beating heart of our new community, become a reality."
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