Over three million is set to be poured into independent living services
Social and Sustainable Capital (SASC) have announced they will be investing £3.5m in Caring for Communities and People (CCP) to expand their independent living services.
In a bid to support vulnerable young adults leaving the care system, CCP, a leading South West-based charity, has been given millions to help facilitate the expansion of their independent living services.
This investment marks SASC’s second partnership with CCP, following an initial Community Investment Fund (CIF) loan in 2020.
News of the funding has been welcomed with open arms as in 2022 research from Step by Step, a charity dedicated to helping young adults, found that 25% of all homeless young people were once in the care system and that 33% of care leavers become homeless within the first two years of leaving the system.
This new loan will enable CCP to obtain and refurbish six properties, which will provide safe and warm housing for vulnerable young adults. The investment will also contribute to CCP’s long-term sustainability by establishing a property portfolio that guarantees tenancy security and high-quality accommodation.
Cordell Ray, Chief Executive of CCP, expressed, ‘Social investment has been transformational for CCP. It has not only reshaped our business model but also enabled us to expand our service into different regions and invest in high-quality homes, freeing us from dependence on private landlords.
‘Nevertheless, the pressing need for safe, quality homes for young adults transitioning from the care system remains. By expanding our Independent Living Service, we aim to create a positive impact on the lives of those grappling with the care system, homelessness, and financial difficulties, helping them develop independence and prepare for adulthood.’
In addition, Mark Bickford, chief executive of SASC claimed that the investment could not be better placed than it is with CCP.
‘CCP is a leading social care provider in the South West, creating meaningful change in the lives of children, young people, families and vulnerable adults,’ Mark said. ‘Through this second investment, we are delighted to empower them to broaden their critical work, expanding the number of young adults who can experience the benefits of stable, secure, and supported accommodation while making their way out of the care system.’
Image: CCP
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