SASC invests £2.8m in The Benjamin Foundation to buy properties for young people facing homelessness in East Anglia
Summary
The Benjamin Foundation, a charity that supports young people and families across Norfolk and Suffolk to overcome big challenges in their lives, has received a social investment loan of \xa32.8 million from Social and Sustainable Capital (SASC).The loan from SASCs Social and Sustainable Housing fund (SASH) will enable The Benjamin Foundation to buy 10 properties in Lowestoft and Great Yarmouth, expanding their successful Anchorage supported accommodation service.Anchorage supports young adults between the ages of 18 and 30 in shared accommodation, and currently provides 25 units across six properties in Great Yarmouth with an additional 4 units in a property in Lowestoft. They learn life skills such as cooking, cleaning and budgeting, as well as receive education and career guidance.We also support young people to overcome financial barriers that can come with accessing the private rental sector and support them to understand the responsibilities associated with managing a tenancy. This means they can leave our services with the best possible chance of leading happy, successful, independent lives, to keep them off the streets and prevent the homelessness problem growing.Ben Rick, Co-Founder and CEO of SASC said, The Benjamin Foundation wants to end youth homelessness and is tackling the problem locally by providing a safe home and support for almost 200 vulnerable young adults every night. The charity is highly experienced in delivering housing and support services to an excellent standard across Norfolk and Suffolk and helping young people get back on their feet.There is much demand for the additional SASH-funded units and the charity has strong support from local commissioners across both counties. Anchorages successful move-on rate for young people, from supported transition to independent living is evidence of the positive impact this service is having.For more information on The Benjamin Foundation visit: www.benjaminfoundation.co.uk