Members of cohousing collective Ambos hope to build 30 mutually-owned homes in Falmouth, claiming the development could help solve the town's housing shortage.
They are looking to build on a site off Tregenver Road, hoping to create homes for those who earn too much to qualify for social housing but not enough to buy their own property.
Giving a presentation at a meeting of Falmouth Town Council, Becky Payne from Ambos said: "We are not trying to do something alternative, but something for ordinary people...who can't afford to get on the housing ladder."
According to Ambos' plans, residents would all live in their own separate houses or flats, and there would be a communal dining room for optional shared meals.
Becky spoke about how the scheme "permits community but doesn't enforce it."
Architect Miguel Fernandez said: "This will be 100 percent affordable. It will be intergenerational and close to amenities. It isn't just about housing, it's about building resilient communities. We believe that this is the future."
He went on to say: "We are very keen to get a good idea of what the town thinks of the project and whether there's a collaboration possible between Ambos, the town council and Cornwall Council."
The mutual home ownership society (MHOS) would prioritise residents of Falmouth and Penryn, allocating places to local people before allowing people from elsewhere to join.
Miguel says that the amount of money paid into the MHOS by residents would be 80 percent of what they would pay on the open market for a similar quality of housing.
It would operate under a co-operative model which sees all members owning shares of the development, paying a monthly lease equal to 35 percent of their household income.
He said: "Every pound that they put into their shares, they can take that out if they want to leave."
He also stressed that the plans were still in an embryonic stage, and that Ambos is currently looking at sites around Falmouth, having considered purchasing the site of the former Rosslyn Hotel in the past.
The reaction to the scheme from town councillors was mixed, with some welcoming the idea of a cohousing community and others more sceptical of the plans.
Councillor for Smithick ward Jayne Kirkham praised the concept, saying "that sounds like a fabulous idea."
Councillor for Trescobeas ward David Saunby was less enthusiastic, saying: "I think you're trying to fit a quart into a pint pot. I don't think you're going to get much support."
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