BHCLT is taking responsibility for securing the property and refurbishing it. They are also securing the finances through a mixture of mortgage and other loans, and Seasalt is working with them to secure loans and donations through crowd-funding.
Once complete, BHCLT will transfer responsibility for managing the home to the housing co-op members through a lease. The plan is for students to move in for the start of the academic year in September 2019.
Anyone with an interest in investing in the Seasalt project is encouraged to get in touch with BHCLT at firstname.lastname@example.org.
One of Seasalt’s student members said: “I have been a supporter of co-operative organisations for a long time, and after experiencing the stress of finding affordable housing in Brighton I started searching for alternatives.
“A high-quality, stable and affordable living environment is vital for student wellbeing. I am hoping to see student housing co-operatives thrive and become the norm across Brighton. With Seasalt we are starting small but aiming big.
“It bothers me that renting to students is seen as a way of making a profit off of young people who tend to be less informed and less likely to invest in the long-term improvement of their homes. This funding is the first step to us being able to regain control over our housing conditions in a way that cares for the wellbeing of students and the environment. Housing that’s not for profit is vital in order to help alleviate the artificial inflation of student housing and the property market in Brighton more widely.”
Martyn Holmes, a director of Brighton & Hove Community Land Trust (BHCLT) said: “SEASALT will be offering affordable housing that meets students’ needs, as well as helping them develop new skills and play an active role in their local community.
“Too often students in Brighton & Hove end up living in expensive and poor-quality housing and SEASALT will be showing an alternative is possible. We are really proud to back such an important project for our region.”
Source: By Miles Hadfield