A group of residents behind an ambitious bid to build community housing in Chapeltown have issued a final plea for cash - with just three days left to go before their funding deadline.
At the last count, Chapeltown Co-Housing (ChaCo) had managed to raise an impressive £576k in investment pledges towards their £600k goal - leaving just £24k left to find before midnight on March 31.
The cash is needed to kick start the group’s project to transform a derelict piece of land into a community of 33 affordable homes with shared facilities such as a common house, laundry, guest rooms and food-growing space.
The community share scheme offers an annual interest rate of four per cent on loans of over £20,000 while smaller loans will attract two per cent.
Peter Richardson, one of ChaCo’s founding members said all that remains is for 24 people to lend £1,000 each and the hard-working group’s seven years of planning will become a reality.
He said: “A really big thanks to all who have pledged money so far and for the support of the Yorkshire Evening Post. You have demonstrated that individuals are keen to support ethical and radical affordable housing initiatives.”
The loans will be used to help fund the building of the affordable rented accommodation and investors will be paid back from the rent and sales of the project.
To lend money, visit the ChaCo website at www.chapeltowncohousing.org.uk.