St Clements Bow CIC is in discussion with a leading housing association and an award-winning contractor to bid for the site from the Homes and Community Agency. Exact numbers are yet to be decided, but could provide between 260 and 300 homes – tenure types have yet to be decided, but could be chosen from private rented, affordable rent, shared ownership and self-build conversion. Discussions will be had to determine other community uses and facilities.
The aim is that the CIC will be responsible for all the community elements of the scheme, hopefully including a community maintained Heritage Centre. Other activities to be investigated include community facilities such as car pool sharing, job creation and training, and the maintenance, repair and gardening companies, as business start-ups – aimed at ensuring local community control and management.
Residents of the completed scheme will become share-holding owners in St Clements Bow CIC, thus effectively controlling the maintenance and appearance of the whole estate. Residents, neighbours and businesses in the surrounding area will also be invited to subscribe to shares, giving them the right to be consulted and to participate in the running and management of the St Clements Heritage Centre.