New housing scheme aims to help revitalise St Austell town centre

A SCHEME has been launched to provide affordable housing for local people while also helping to revitalise St Austell town centre.

Under the initiative, a new housing co-operative, St Austell Community Land Trust Ltd, has been set up. One of its first moves is to run a community share offer which seeks to raise £250,000 from mainly local people with an interest in contributing to the regeneration of the town centre.

The project aims to take vacant and rundown buildings and turn them into affordable homes to rent for families and working people.

Subject to the successful raising of funds, the first project at No.9 Truro Road will see the conversion of a former dental surgery and townhouse into four homes.

The properties, which will be owned and controlled by the local people who invest in the scheme, will offer social-rate rents for local people struggling to get on the housing ladder, with priority being offered to key workers.

Noah Law (Labour), the MP for St Austell and Newquay, is a director and co-founder of the new community land trust.

He said: “When I was elected, it was on the back of three key pledges, one of which was to work to revitalise our towns – another of which was to work to address the Cornish housing crisis. This project does both.

“It’s been an absolute joy to work with an expert local steering group, roll up my sleeves, dust off my drafting and spreadsheet skills, and help found a project which will bring the community together to make a tangible difference for our town for generations to come.”

Director and co-founder Sandra Heyward said: “I am fully behind this exciting community-led project, having seen how community land trusts have worked successfully in other areas. This is a project that will help to revitalise St Austell town centre, bringing much-needed added footfall and much-needed truly local, affordable social rented housing that will be owned and run by the community, whilst helping to protect and preserve the heritage of our town.”

Director and co-founder Angela Warwick said: “Delivering something like this as a community isn’t easy, hence the importance of an expert steering group of volunteers that really cares about our town.”

The news of the St Austell project comes on the back of an open day at Looe’s community housing scheme run by Three Seas Community Land Trust, which has raised more than £250,000 from the community and other sources and is refurbishing flats above the harbour.

St Austell Community Land Trust’s community share offer runs for three months, closing on October 4. Information about the share offer, including documentation detailing the policies and plans, as well as how to invest, can be accessed at www.crowdfunder.co.uk/p/staustellclt-phase1

The community land trust says the minimum investment for local people is £20. For non-local people the level is £40 and for institutions it is £100. The maximum investment allowed for the community share offer is 10 per cent of the share capital.