Our goal is to lay the foundations for communities to flourish for generations to come. We want our developments to integrate into the fabric of existing communities and be places where people and nature thrive.
In addition to creating high-quality homes and green and inviting open spaces with amenities for the local community to use and enjoy, it is vital that we put in place an appropriate long-term management structure that safeguards the community assets and is affordable for the residents.
Different management and maintenance systems offer different opportunities to manage shared public spaces and amenities. We work closely with residents, local authorities and partners to find the right solution for a development - something that is affordable and fit-for-purpose. We also support resident groups by contributing to management committees long after we have completed our work on a development.
Community Interest Companies (CICs) are an innovative approach to the management of shared assets. They are not-for-profit enterprises that use their profits and assets for public benefit, combining social purpose with commercial activities. A CIC is not driven by the need to maximise profit for members and owners. Financial surpluses are reinvested.The Monksmoor Park CIC has been set up to own and manage all the communal assets on the site on behalf of the residents. With this type of ownership structure, in time the residents will be empowered to manage the green spaces and community buildings in a way that suits the community. This will include the public open spaces, some roads, selected pieces of public art, street lights, some allotments, the play areas and the website, all being transferred to the CIC on a phased basis. All residents, the school, retail unit occupiers and any other stakeholders owning property on the site will become members of the CIC. The CIC is funded in the early stages by Crest Nicholson alongside annual contributions from members.