We’re really proud that our Resonance Community Developers (RCD) fund and YorSpace have won Most Innovative New Build Scheme at the 2026 Housing Innovation Awards.

Last week, Charles Lewis, Senior Investment Manager for RCD, and Jimm Reed, Director at People Powered Homes, a delivery partner for YorSpace, attended the awards ceremony to celebrate this achievement alongside partners from across the housing sector.

This award marks a significant milestone for RCD as the fund’s first-ever award win, recognising its role in supporting community-led, innovative approaches to affordable housing - and adding to Resonance’s growing track record of award-winning social investment funds.

An award-winning, community-led housing scheme

The award was given in recognition of YorSpace at Lowfield Green in York, one of RCD’s most impactful investments to date. The pioneering development is delivering the city’s first housing co-operative, setting a new benchmark for how affordable housing can be created, owned and sustained.

The scheme will provide 14 permanently affordable homes for local families, created and owned by residents through a Community Land Trust and co-operative model. This approach ensures homes remain affordable in perpetuity, with prices set at around 70–75% of open market value and protected from future speculation. By locking affordability in for the long term, the model gives residents security, stability and genuine agency over their housing.

This innovative scheme also responds directly to the acute affordability pressures facing York. Many local people are now priced out of both home ownership and the private rental market. City of York Council highlights that average house prices in the city are at least ten times average earnings [1], leaving many residents unable to afford a home where they live and work. These challenges are compounded by rising private rents: according to the Office for National Statistics, average rents in York reached £1,157 per month in December 2025, a 4.8% increase year on year [2].

As a result, demand for good-quality, affordable homes significantly outstrips supply, affecting not only housing security but also workforce retention, social cohesion and the long-term sustainability of local communities. YorSpace directly addresses this challenge by creating homes that are genuinely affordable and rooted in community ownership.

Designed to One Planet Living and Passivhaus principles, the homes are highly energy-efficient, low-carbon and future-proofed. Shared green spaces, sustainable infrastructure and a planned community hub are embedded into the scheme, supporting connection, wellbeing and low-impact living alongside long-term affordability.

Unlocking delivery through social impact investment

While the vision for YorSpace had strong community backing, the project faced significant financial barriers after years of planning. Like many community-led developments, it struggled to access the patient, values-aligned investment needed to move from ambition to delivery.

A £2.5 million social investment from RCD was instrumental in unlocking the finance required to bring the scheme forward, alongside support from North Yorkshire Combined Authority and City of York Council, which enabled construction to begin while ensuring the project could remain true to its core principles.

YorSpace demonstrates the vital role social impact investment can play in supporting community-led projects - that may not fit traditional funding models - helping reduce risk, unlock innovation and bring locally led solutions to life.

Celebrating the win

Reflecting on the award, Charles Lewis, Senior Investment Manager, RCD, said:

“Winning Most Innovative New Build Scheme is a huge moment for both Resonance Community Developers and YorSpace. This project shows how social investment can unlock community-led housing that is genuinely affordable, environmentally sustainable and built to last. We’re incredibly proud that this is RCD’s first award win – and we see it as the first of many.”

Looking beyond housing

YorSpace demonstrates what’s possible when communities, delivery partners and social investors work together. It also reflects the broader mission of RCD, which is to support communities to create and own assets that meet local needs and build long-term resilience - not only through affordable housing - but across a wide range of community infrastructure. This award win reinforces RCD’s commitment to backing bold, community-led projects that deliver lasting social, environmental and economic impact.

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About Resonance Community Developers (RCD)

RCD is a social investment fund managed by Resonance Ltd and designed to support communities to create and own assets that meet local needs and help build community cohesion.

RCD invests in community-led projects that deliver long-term benefit, including:

• Affordable homes
• Sports and leisure facilities
• Low-carbon and renewable energy generation
• Other community-owned assets

Find out more:

• For investors
• For community projects looking for investment
   

[1] https://www.york.gov.uk/council-plan-1/one-city-2023-2027/9

[2] https://www.ons.gov.uk/visualisations/housingpriceslocal/E06000014/