IMPACT THEME: Housing & Homelessness; Community & Local Democracy
WHAT THEY DO: Address the growing problem of the lack of affordable rental housing for local families, due to the rising property prices which have been fuelled by the significant proportion of second home and holiday home ownership in the area. Many local families are being prevented from remaining in the communities in which they grew up.
YEAR FOUNDED: 2006
INVESTMENT AMOUNT: £400,000
INVESTMENT SOURCE: Resonance Affordable Homes Rental Fund
INVESTMENT PURPOSE: To convert an historic Grade II listed building in the town into eleven much needed additional homes at affordable rents
DEAL STRUCTURE: 8 year secured loan from the Resonance Affordable Homes Rental Fund (3% total cost p.a.)
Resonance Limited is a company registered in England and Wales no. 04418625
Resonance Impact Investment Limited, a subsidiary of Resonance Limited, is authorized and regulated by the Financial Conduct Authority (FCA). Firm number 588462.
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