COMMUNITY DEVELOPERS SOCIAL IMPACT REPORT 2023/24
Resonance Community Developers (RCD) is a social investment fund, designed to support communities to create and own assets that meet local needs and help to build community cohesion, by investing in community-led affordable homes and facilities that benefit the whole community.
The fund's vision is for all communities to feel empowered, create local solutions, become asset owners and contribute to place-making, economic resilience and tackling inequalities. RCD supports new and established community enterprises structured as Community Benefit Societies or similar legal entities, investing in pre-development feasibility, land acquisition and construction. RCD has been developed to work with communities to deliver the assets they need to develop and become more resilient. The fund invests in:
The fund is operating in three main geographies – Greater Manchester, Devon & Cornwall and Gloucestershire, but has also expanded its remit to cover other regions where there is an aligned demand. The fund builds on Resonance's previous community asset funds, the Community Share Underwriting Fund and Affordable Homes Rental Fund.
RCD supports community groups in delivering social impact through sustainable, local community asset projects, creating new solutions for communities across England in the face of a shortage of new homes and a lack of basic community infrastructure like parks, playgrounds and sports facilities.
The investment raised so far is supporting projects including affordable housing, developing low-carbon and renewable energy assets, and preserving much-needed community amenities like sports facilities.
Our video showcases two community groups which have benefitted from investment from the fund, and which are delivering much needed affordable homes in their communities. It features:
COMMUNITY VENTURES (Middlesborough) (CVL)
CVL is located in an area with a chronic shortage of affordable housing and a high level of unemployment. The investment from RCD is helping convert abandoned properties into affordable homes for up to 30 families in the area. The fund has also enabled the purchase of a commercial space which will help support the charity’s sustainability.
YORSPACE (YORK)
York based YorSpace, is building 19 affordable, environmentally friendly homes for local people, which will include 1 and 2 bed apartments, and 2, 3 and 4 bed homes. All homes are designed around a communal garden area, and high environmental standards and are low energy to run.
Watch the video below:
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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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