New Fund to house the homeless in Greater Manchester
£5 million share could buy up to 100 properties
The Greater Manchester region is getting some much-needed funding to help the less fortunate.
£5m is coming to the region from a new £20m share program.
That money will pay for and renovate 50 houses while hopefully securing an additional 100 properties.
The houses and flats will be bought through a new round of the National Homelessness Property Fund, started by the group Resonance.
Local authorities in Greater Manchester are helping to fund the project.
The regional pension fund and the social impact investors at Big Society Capital will also be chipping in.
They’ll be offering homes with a minimum tenancy of a year to anyone on a local authority housing waiting list in the area.
The tenancies will be with social landlords such as housing associations and councils.
The hope is that the initial fund can eventually grow up around £100m to support hundreds more in need.
Around 3,600 individuals and families live in temporary accommodations in Greater Manchester.
Close to 4,500 are living in emergency accommodations.
Last month Greater Manchester mayor Andy Burnham said they’d make 40 extra beds available.
Those beds are for local homeless people during the winter under the Bed Every Night Scheme.
The scheme which costs around £300,000 will come out of Burnham’s Mayoral Priorities Fund. (JSL)