Blue Triangle receives £4.925m funding boost from SASC to invest in new properties
Blue Triangle, a social care provider and Registered Social Landlord (RSL) has received a £4.925m loan from Social and Sustainable Capital’s (SASC)Social and Sustainable Housing Fund II (SASH II) to invest in new properties. Blue Triangle is the first housing association in Scotland to receive investment from the SASH II fund.
Founded in 1975, Blue Triangle currently runs 26 services across 10 local authorities. With this funding, the organisation intends to invest in new properties across Scotland, increasing the capacity of stretched resources against the backdrop of a housing crisis. Blue Triangle aims to rebuild confidence for the people they support, helping them to reintegrate into their communities.
The SASH II fund aims to improve the lives of vulnerable individuals by increasing their access to safe, stable and appropriate housing, and to make charitable organisations financially stronger by helping them to buy housing in a low risk way.
Gary Meek, CEO of Blue Triangle, said:
“We are incredibly proud to be recognised by the SASH II fund and we have already started the process of purchasing property. In line with their Sustainable Development Goals, Blue Triangle will utilise this funding to tackle poverty, reduce inequality and build sustainable cities and communities. As we head into our 50th anniversary, Blue Triangle looks forward to providing more supported accommodation and continuing our excellent work across Scotland.”
Mark Bickford, CEO, SASC said: “We are delighted to invest in Blue Triangle, a charity with nearly five decades of dedicated service to homeless and vulnerable people in Scotland. This partnership not only enables Blue Triangle to expand its capacity to provide vital supported housing but also strengthens our commitment to supporting impactful Scottish charities. Through this investment, Blue Triangle will acquire over 60 properties, creating more stable, independent living options for vulnerable adults across the south of Scotland. This collaboration reflects SASC’s focus on sustainable housing solutions that transform lives and uplift communities.”
Blue Triangle currently supports over 400 people every day through their services and outreach work. 41% of those admitted to Blue Triangle services last year were under the age of 25. 35% of those entering the services last year had experienced sleeping rough.
