Social investment pilot to fund 200 homes for rough sleepers

Eddie Hughes has announced that more rough sleepers and people at risk of homelessness will be supported into accommodation through a new social investment pilot that will create over 200 move-on homes.

The Rough Sleeping and Housing Minister said that the three-year pilot will see £15 million of government funding combined with an additional £15 million provided by Big Society Capital, a leading social impact investor, to deliver over 200 move-on homes for rough sleepers and those at risk of homelessness.

The grant will fund the purchase of existing housing from the property market in partnership with local organisations and make them available at Local Housing Authority rent levels to ensure they remain affordable. This is part of the government’s much wider action to tackle rough sleeping and homelessness with a further £750 million of investment this year alone.

The pilot will provide homes in Greater Manchester, London and Teesside with a smaller number of other homes provided in areas across England. The pilot marks the first time the department has used social impact investment to fund new homes.

Hughes said: “I am delighted to announce this partnership with Big Society Capital that will see a total of £30 million invested in new homes for rough sleepers. Over 37,000 people have been housed through Everyone In and this social investment pilot will help to provide additional settled accommodation and support to help rough sleepers off the streets permanently. This pilot is part of the government’s much wider action with a further £750 million investment this year to help end rough sleeping for good.”