COMMUNITY DEVELOPERS SOCIAL IMPACT REPORT 2023/24
Resonance Community Developers (RCD) has invested £69,000 into Nudge Community Builders, to develop empty buildings into places where community business can thrive, in Plymouth.
Plymouth, the largest city in Devon and is currently experiencing high levels of inequality:
In an area with high levels of deprivation, community group Nudge was set up in 2017 by local people living in Stonehouse, Plymouth to meet high levels of need. The aim of Nudge is to create lasting change in surprising and enterprising ways, and to build a strong local community and economy.
Nudge recognised that empty buildings in private ownership have caused long-term problems along the street for decades. The vision for this project was to make Union Street in Plymouth a street the whole world loves again. By making sure some buildings are owned by the community, Nudge aimed to create a street that meets the needs of local people. The ambition is to bring 4000qm of empty buildings back into use, and they have already created space for twenty-five small businesses
Nudge acquired the C103 building on Union Street in October 2022 with the aim of demolishing the vast majority of the site, building commercial units on the ground floor and providing thirty accommodation units on the upper floors. This investment will support with the pre-development costs to enable the project to submit a planning application. It will cover costs such as a feasibility study, professional fees, site surveys, design costs and community engagement. These are important steps to creating a high street in the community that serves the local people best.
Hannah Sloggett, Co-Director at Nudge Community Builders, says that, “Our ambition is to make Union Street a street the whole world loves. The team at Resonance has supported us at every twist and turn in helping us on our way to achieve this ambition.”
Nudge have now unlocked 25% of the empty buildings along Union Street and offered spaces for local people to grow. And they are one of three Devon community groups that RCD works with, supporting communities in some of the most deprived areas of the country to become more resilient and sustainable.
About Resonance Community Developers
Resonance Community Developers (RCD) launched in 2019, and is designed to support communities to create and own assets that meet local and specific needs within towns and villages across the UK.
£12.3m has been raised so far for projects including affordable housing, developing low carbon and renewable energy assets, and preserving much-needed community facilities such as sports facilities. This investment helps community groups achieve their ambitions to deliver social impact through sustainable, local community asset projects, creating new solutions for communities across the UK.
The fund collaborates with local leaders, providing hands-on support and working partnerships to help them find solutions to the challenges they face, building resilience and creating self-sufficient communities. It aims to raise £100m to support community groups.
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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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