# Big Society Capital announces £15 million investment for community-led housing projects

- Link: https://fundraising.co.uk/2016/12/14/big-society-capital-15m-investment-community-led-housing-projects/
- Published: 2016-12-14T08:45:41+00:00
- Author: Melanie May

**[Big Society Capital](https://www.bigsocietycapital.com/) is to invest £15m into
community-led housing project through its newly launched [Community-led Housing Facility](http://www.bigsocietycapital.com/community-led-housing-facility).**

Big Society Capital will co-invest the funds with three junior social investors’
investments into large-scale, mainly urban community-led housing projects designed
to deliver affordable housing that meets local need. The co-investment facility 
aims to increase the development capital that is available in the market in order
to help more projects reach completion, and will also aim to attract further investment.

[FSE Group](http://www.thefsegroup.com/), [Northstar Ventures](http://www.northstarventures.co.uk/)
and [Social and Sustainable Capital](http://socialandsustainable.com/) (SASC) will
be the first group of social investors to access the Facility in order to invest
in projects that need more than £1m of investment. It will also be supported by 
other co-investors across social banks, local authorities, foundations and other
grant-makers, with the potential to increase the amount available to community-led
housing projects to £75 million, according to Big Society Capital.

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The Facility’s launch follows a number of investments that Big Society Capital has
made in an attempt to help address the growing need for affordable housing. Earlier
this year, it invested £15m into [Funding Affordable Homes](http://www.bigsocietycapital.com/what-we-do/investor/investments/funding-affordable-homes)
with Salamanca Group, as well as £15m into the [National Homelessness Property Fund](http://www.bigsocietycapital.com/what-we-do/investor/investments/national-homelessness-property-fund)
in partnership with homelessness charity St Mungo’s Broadway and social investor
Resonance.

Catherine Harrington, director of the [National Community Land Trust Network](http://www.communitylandtrusts.org.uk/)
said:

> “There are now 225 Community Land Trusts (CLTs), having grown six-fold in six 
> years, 700 homes have been built and there are now nearly 3000 homes in the pipeline.
> However, as a relatively new model of housing delivery, CLTs continue to face 
> significant challenges that prevent the movement from making a more significant
> contribution to housing supply including access to sufficient capital from social
> investors.
> “This facility is an important step in ensuring that the community-led housing
> sector has access to sufficient development finance on appropriate terms. We look
> forward to Big Society Capital and other investors supporting the sector to achieve
> scale.”

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