Many social ventures consider developing a community asset, building or space to fulfil their mission. It may be that they need a space from which to operate or to reach the community, or that an asset could be repurposed for community benefit. Sometimes it could be a way of generating an income. Below we introduce some of the different avenues to taking on an asset for community benefit, with links to further resources for more in-depth exploration.
People, community groups, social enterprises or other organisations may go about developing community assets in a number of different ways. For example:
1 Asset Transfer
This is a process that allows a community organisation to take over publicly owned land or buildings, usually at a discounted price, in recognition of the public benefits that the community use will bring.
One example of Community Asset Transfer is the Platt Bridge Community Zone. Previously an under-utilised space, it is now a thriving community business hub hosting 3 anchor tenants – Embrace Wigan and Leigh, Jack in the Box nursery and MissPlaces. They also host a number of community businesses (developed through the Empowering Places project) including MissPlaces, BVCC and Pianos, Pies, and Pirouettes.
Wigan and Leigh Community Cooperative, who are the driving force behind the Platt Bridge Community Zone, aim to build on their experience with the Community Zone to explore other possibilities for giving a new lease of life to local facilities, using their ability to access funding and resources not available to the Council to enable them to invest and improve facilities, services and public spaces for local people.
2 Crowdsourcing money to save/buy a building
Property crowdfunding is a type of property investment that enables investors to earn returns from property by contributing a fraction of the total amount of the investment. It works by raising capital from a large number of people, which is used to buy or invest in a property or property-backed loan.
An example of this can be found of Crowdfunder, where the Paradigm Shift Housing Limited company in Birmingham started a campaign called ‘Key Worker Housing Project’. This project aims to purchase high quality housing to be rented to Key workers at a discount as a way to say ‘thank you’ to their work throughout the pandemic.
3 Leasing a building for community use
Another option is leasing a building or space from a commercial landlord. Some landlords may be able to offer preferential rates for non-profit or for-purpose organisations. Before starting you search for suitable commercial property, you’ll need to consider:
- Where you organisation needs to be to best serve your target.
- What you plan to use the property for
- How long you will need the space for
- Your physical requirements (size, facilities, transport links)
- The costs involved in leasing the property.
One example of leasing a building for community use is the Old Abbey Taphouse – a flagship venue of STEAM Hubs and Pubs C.I.C. The Old Abbey Taphouse is a community interest company creating safe spaces for the community to relax and learn something new.
4 Using your own property and turning it over for community use
The Resonance Centre is an example of a previously commercial space now given to community use. Previously a kitchen showroom, owner Juanita Margerison developed it into a well-being hub and yoga centre to promote connection, collaboration and inclusion. The Resonance Centre offers a variety of services including yoga, meditation, movement, nutritional guidance, sound healing, and breathwork. The space is also becoming home to a variety of community groups providing services including art classes, adult drama, youth theatre, sober raves, book club, outdoor walking groups and seated yoga for the elderly.
5 Developing Community Housing
Community-Led Housing is housing which is developed, controlled, and in some cases, owned, by the community living in it. It’s a great option for:
- Anyone looking for housing
- Young people looking to buy their first house
- Older residents wanting to downsize or live in a community
- Families looking for reasonably priced family homes
- People in need of a specific type of housing to meet their needs
- People on local authority housing waiting lists
- People who want to buy but cannot afford to buy a home on the open market
An example of community housing can be found at the Greater Manchester Community-Led Housing Hub organisation, and the various of community-led housing they are supporting. For instance, the co-op Living Freehold Society in Manchester is an Eco Housing organisation that restored a large eco-house in Withington which is now occupied by six people who form the Cordata Housing Co-op. Now, they are looking to release equity from their existing property to renovate a derelict building which they have taken over from another housing co-op. With the help of GMCHH, they are planning to create a multi-occupant single house co-op, similar to Cordata, which will be home to at least four people.
This development is supported by local councillors and neighbours who are keen that the derelict building is brought back to life.
Resources:
Listen again to our ***recent discussion panel on this topic
