Plans to build up to 1,000 affordable homes in Leeds will be unveiled in the city tonight.
Leeds Community Homes, led by a board of local housing experts and entrepreneurs, will launch its Community Shares project, through which local people will be invited to invest in the first phase of work.
Along with proposed match-funding by Power to Change, an independent trust, this will help raise the money needed to buy and renovate the first set of flats which will take tenants from the council's waiting lists.
Those behind the project say it will relieve pressure on the Leeds housing market, as well as providing a new development which keeps profits and assets in the city.
The shares will be available for one year, with plans for the first flats to be occupied 18 months after that.