Trinity Homeless Projects, a charity in the London Borough of Hillingdon committed to ending homelessness, has received a social investment loan of £3.25 million from Social and Sustainable Capital (SASC) from its Third Sector Investment Fund (TSIF).
This is the first time Trinity taken on social investment and it has enabled them to purchase and refurbish the Riverside Hotel in West Drayton, creating 41 affordable apartments to let to single people and couples on long-term tenancies.
The fully self-contained studio rooms will house those who are supported by Trinity’s services and can live independently. The accommodation will support them as they make the transition from shared houses back into the private rented sector. The first tenants will be moving in in July 2022, when the refurbishment project will be completed.
The charity has been providing supported housing and day services including coaching for people suffering and at risk of homelessness since 2007. The new affordable homes will meet a significant need for this kind of accommodation in Hillingdon, giving people who are currently supported by Trinity the chance to move on into a long-term rental home.
Annette Kirkeboe, Chief Operating Officer at Trinity Homeless Projects, said “Providing affordable homes in an expensive part of London is a vital part of the pathway to ending homelessness. Social investment has enabled us to purchase this property in a really beautiful place and create homes hope people will want to stay in for a long time.”
Ben Rick, Co-Founder and CEO of SASC said, “Trinity has an excellent track record of delivering housing support. The investment has enabled them to develop affordable accommodation for people on low incomes, including those who have experienced homelessness and provide much needed accommodation in a high rent area of London.”
For more information on Trinity Homeless Projects visit: www.wearetrinity.org.uk
For more information on SASC visit: www.socialandsustainable.com