Council invest in affordable property

Council invest in affordable property

Added: 16 November 2015

Bristol City Council has agreed to invest in a fund that will purchase properties to house those who have been homeless or are at risk of homelessness.

The scheme will see up to 80 one and two bedroom properties purchased in Bristol that will then be available at ‘affordable’ rents. The properties will be managed as private lets by Real Lettings – a management arm of one of the council’s existing partners, homeless charity St Mungos Broadway.

The intention is that households will be able to stay in this accommodation for two to three years and, during this time, will be helped to make progress in their lives and find more permanent settled accommodation in the private sector.

It is hoped the scheme can help ease the problem of homelessness in the city, and give people a route back to independent living.

This scheme will limit the number of households placed in high cost emergency accommodation due to the lack of affordable housing.

“With many people struggling to find homes within the private rented sector, it is our responsibility, as the council, to provide good quality accommodation and help people on the road back to living independently.”

The council’s £5 million investment in the fund will be matched from a social investment fund – meaning double the amount of properties can be purchased.

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