Nacro will be working in partnership with Resonance Ltd – a social impact investment company working with social enterprises and charities – to house people in London who are currently sleeping rough or residing in hostels. The Everyone In Partnership will provide 50 homes for those sleeping rough on London’s streets, with an estimate of 200 people being housed over the lifetime of the fund.
The Everyone In initiative has been created following the rise in rough sleeping over the last year in London and the emergency action as a result of the pandemic that saw nearly 15,000 people being temporarily accommodated in hotels to protect them from the risk of COVID-19. In response, partners across the social investment sector came together to bring
new funds to provide long-term housing solutions.
Alongside accommodating individuals, we will also provide a support service for four years to the service users living in the 50 properties, supporting them to maintain their home, set down roots in a community, address any support needs and re-engage with education or employment
John Williams, Investment Director & Head of Property Funds at Resonance, said:
“This investment from the Mayor of London, Sadiq Khan, allows Resonance to extend its long running homelessness property fund initiative in London to help reach the specific and urgent need arising from the pandemic – helping provide move-on accommodation for individuals who have been temporarily housed in hotels and other emergency accommodation, and where there is now a historic opportunity to help prevent a return to the streets by providing a better way forward.
“We are pleased to be working with Nacro as our charity partner on this initiative, who have significant experience of working with this tenant group and providing appropriate support to ensure successful tenancies and progression for individuals. Impact investment in this area means that properties can be made available for the long run to help this need, and attract other investors who want to back solutions to meet these issues.”
Campbell Robb, Chief Executive of Nacro, said:
“Too many people in London are without a safe, secure home, unable to plan for the future. At Nacro, we’re delighted to be working with the Everyone In partnership, to give people somewhere stable to live – along with extra support that can really make the difference. Holding on to a home in these difficult times is a vital step in helping people to move on with their lives.”