John Dunn, Property Fund Development Manager at Resonance, writes about the publication of the Resonance Supported Homes Fund’s first Social Impact Report.
I am delighted that the Resonance Supported Homes (RSH) Fund's first social impact report, in partnership with charity partners Reside Housing Association and United Response has now been published. It covers the period from July 2020 to March 2021.
As this report has been created during the fund’s infancy, it focuses on the background to the fund and how it has been developed, its impact goals and measures, its progress since it launched and key milestones through until the end of this year.
As the fund scales, investing in more properties and housing people with learning disabilities, autism and mental health problems - who are currently residing in inappropriate accommodation - this annual impact report will share more detail about the fund’s impact and the difference it is making to its tenants.
The fund launched in July 2020 with £10.25 million raised from three seed investors, Big Society Capital, Greater Manchester Combined Authority and Barrow Cadbury Trust, and has a target of raising £50 - £100 million from investors.
I am delighted to also share an exciting and recent milestone for the fund; it has just had it’s second close, with a £5 million investment from Oxfordshire County Council, bringing the fund total to over £15 million. This investment will help to provide up to an additional 25 supported living homes for adults in Oxfordshire with care and support needs.
The RSH fund:
“We all need a place to call home; this fund will make this a reality for many more people with a learning disability, autism or mental health condition.” Tim Cooper, Chief Executive of United Response
Thousands of people with learning disability, autism and mental health challenges are living in inappropriate housing, with few suitable housing choices or options available, leaving them remaining on long waiting lists. And sadly some individuals are stuck living in unsuitable long-term hospital inpatient facilities, becoming institutionalised, facing multiple barriers to discharge.
Of the 1.5 million* people in the UK who have a learning disability
This is where the RSH fund comes in. It provides a long term housing solution, where every person can choose to live in the home they want to live in with the level of support to suit their needs, enabling them to live fulfilling lives as participating members of their local community.
This first social impact report highlights how the fund has been structured to achieve significant social impact in its provision of the specialised supported housing (SSH) provided by its charity partners, as well as its main impact goals (positive tenancy expectations, sustainable tenancies, positive partnerships and long term change), and how it will measure these.
And because it was co-designed with leading learning disability organisations and impact driven housing associations - in direct response to the Regulator of Social Housing's concerns over onerous leases in this sector - it offers its charity partners sustainable, fair lease terms with break clauses and transparent cost structures. This is in fact key to how the fund differs from other leasing models, with the focus very much on the specific needs of every tenant it provides a home for.
I am incredibly proud the fund is already buying properties and gearing up to hand these to its charity partners for people to move into, so they can start living their lives how they choose to. The difference this will make to peoples lives is enormous and we at Resonance would love to hear from anyone who thinks they might want to work with us to achieve funds aims.
Huge thanks to all stakeholders in this fund and the contributions they have made - and continue to make - in helping to create system change and positive impact on people’s lives.
Please download and read the report here.
More information about the Resonance Supported Homes fund can be found here.
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