Wales Co-operative Centre (funding complete)
Funding at a glance
Amount: £40,000 grant in 2014 and £130,000 grant in 2016
Approved: 2014
Status: Funding complete
Funding to the Wales Co-operative Centre to increase the number of housing co-operatives providing affordable homes in Wales.
The first grant, awarded in 2014, supported 15 co-operative groups as they became established. The work had a direct input in the creation of 26 new affordable homes and played a supporting role in the creation of a further 57.
A continuation of funding from 2016 provided specialist consultant support to create business cases and develop financial modelling for 40 pioneer co-operative housing projects, with the aim of creating 100 affordable homes. The project supported emerging co-operative groups to develop from concept to construction. Without this support, groups would not have had the technical expertise to achieve their goal.
The Wales Co-operative Centre has identified appetite for more co-operative housing in Wales. Housing co-operatives are groups of people who collectively own and manage their accommodation – from shared houses, to blocks of flats, to entire housing estates. Together they take responsibility for arranging repairs, making decisions about rent and who joins or leaves the co-operative. Living in a housing co-operative can be a good way to access affordable housing and gives people more control over where and how they live.
Successes have included:
- Home Farm Village in Cardiff which has created 41 new homes. This low-density scheme was designed to high specification and has eco-friendly features. Green spaces and low boundary walls encourage community interaction.
- Loftus Village Association in Newport which has created 19 homes. This model offers a community-led approach to the traditional shared ownership model and members can advance to full-ownership at any time.
- Old Oak Housing in Carmarthen which has created 27 new homes and uses an intermediate rent model as an affordable option for local people.
Wales Co-operative Centre has also received funding from the Welsh Government for this work.