In July 2021 we launched our Community Share Offer via the ethical investment platform Ethex and, now that all the paperwork has been done, we are pleased to let you know that we finally raised £350,000 from 123 investors! Thanks to everyone who contributed.
This money will be used to pay back loans from family and friends which were made in order to buy phase 2 of our land; to pay our partner housing association BCHA for the 2 guest bedrooms that are currently being constructed within the southwest apartment block; and to contribute towards the cost of building our common house.
We are currently on target to start releasing the homes in August this year. The first terrace due for occupation is the Northeastern block, which comprises of one 4 bedroom and three 3 bedroom homes. Three of these homes have members lined up for them who have already paid deposits and we have a new member who is likely to be allocated the fourth.
This is a shot of them a couple of months ago – most of the scaffolding is now down and gardens are having topsoil moved onto them. We are delighted with the appearance of these affordable homes, especially with the timber cladding, which will weather in time and enhance the exteriors even more. The terraces will be released a month at a time, finishing with the apartment blocks in March 2023.
Members are getting excited at the prospect of moving into Hazelmead after all these years and are currently busy planning how we will build our common house and use the shared land at the top of the site.