The council plans to lease the land, part of New James Court Estate in Scylla Road, to a CLT who would build new homes there subject to planning permission.
CLTs are non-profit organisations and the homes built will always be tied to the value of average local incomes, as affordable homes delivered by and for the local community. The pioneering project would be Southwark Council’s first partnership to provide new homes with a CLT partner.
The site was identified by Peckham Citizens, an alliance of community organisations, who suggested that this area of the estate would be suitable for affordable housing.
Cllr Helen Dennis, Cabinet Member for New Homes and Sustainable Development, said: “We want decent, safe, well-maintained homes for everyone in Southwark.
“This pioneering project is an example of how we are exploring all the options available to us to provide affordable homes in innovative ways.
“We want our residents to have a real say in how development happens in their community and CLTs let the community lead the way on providing new homes.
“Designed and developed by and for local residents, these truly affordable homes will be another excellent resource for our community alongside the thousands of new council homes we are building across the borough.”
The council is hoping to appoint a successful CLT in February 2025.
Once appointed, the CLT will work with local residents to develop the designs and plans for the new homes. Organisations can apply online.