In particular, this housing crisis affects younger generations who are unable to buy yet are a low priority for (already scarce) social housing. ED/GY, or Ethical Dwellings for Generation Y, seeks to address this situation by "exploiting and manoeuvring within the current systems to leverage opportunities for the good life in today’s crisis." A systematic crisis demands a systematic response

A systematic crisis demands a systematic response, and ED/GY proposes not only new forms of living, but also new models of ownership. Submitted to July’s open call for new models of domesticity, the project confronts the radical changes in the economy, urban environment, and modes of living that characterise dwelling in the contemporary moment.

“The home is not an asset,” ED/GY write. “It is a place to dwell and belong.” They’ve developed a collective ownership model that allows groups of millennials to pool resources and build equity at affordable rates.

The home is not an asset. It is a place to dwell and belong.A project of Architectural Agency, part of the Design Think Tank at the London School of Architecture, ED/GY operates at three scales: low-, mid- and high-rise. Respectively, these constitute an alternative to the terraced house and suburban street, an integrated “piece of the city at ground level”, and an alternative strategy for London’s existing hi-rise towers.

Included in the proposal is an infographic detailing their development model (in the image gallery below), which begins by approaching an “ethical bank with deposits and [the] earning potential of the millennial group as collateral,” in order to receive mini-bonds with fixed terms and rates. In the second stage, ED/GY develops a bespoke unit with borrowed capital, building it as quickly as possible in order to reduce both the borrowing cost and risk, and to make a profit. Third, ED/GY repays investors from the profits as the mini-bonds mature. Then, the residents move in and start making affordable payments. ED/GY covers overhead and the bank loan while a committed group builds equity and others pay rent. The dwellings we propose are designed for sharingFinally, the committed group will own 80% of the development, while ED/GY maintains 20% equity and continues to earn rent and manage the building.

“Without a specific site, our propositions are strategic re-imaginings of existing typologies envisaged as applicable to sites across London,” they write. “The dwellings we propose are designed for sharing: for us it is a luxury not a compromise.”

ED/GY is formed by Architectural Agency, a Design Think Tank at the London School of Architecture. Led by Matthew Dalziel from Interrobang and Will Hunter from the LSA, Architectural Agency explores the power of the architect. Its practice members are Carmody Groarke, Haworth Tompkins, Hut, Interrobang, IF_DO, Liddicoat & Goldhill, Mikhail Riches, PDP London, and Studio Octopi; and its student members are Raphael Arthur, Chiara Barrett, Ian Campbell, Jack Idle, Fabio Maiolin, Phoebe Nickols and Fiona Stewart.

This project was a submission to Archinect's open call for the July theme, Domesticity. For August, we're focusing on all things related to Games. Have an idea for a Monopoly board for the contemporary city? Submit by August 21!