A new scheme from the Framework charity is set to build more accommodation for the homeless and vulnerable in Lincoln.
Over the next three to five years Framework aims to raise £10 million through social investments to provide 150 units of move-on accommodation for homeless people across the East Midlands.
The charity works with more than 9,000 people a year across the East Midlands and also runs the Pathways Centre on Beaumont Free in Lincoln with 21 bed spaces in self-contained accommodation for adults, and supported accommodation for vulnerable homeless young people on Newland in the city.
Framework is also building a new flats suite for temporary accommodation on the corner of Friar’s Lane and St Rumbold’s Street in Lincoln.
Lincoln MP Karl McCartney praised the new scheme: “I was very pleased to be invited to the launch of this scheme to fund homes for homeless people and shall continue to support the excellent work both Framework and The Nottingham do to help combat the problem of homelessness in the East Midlands.”
The Nottingham building society will provide Framework with a loan of £800,000 on commercial terms out of a total of £1.1 million that is needed to provide 14 units of accommodation across Lincoln and Swadlincote, Derbyshire.
The cost of the loan will be partly offset by savers’ investment in special Framework saving accounts provided by The Nottingham.
David Marlow, Retail Director at The Nottingham Building Society, said: “We are delighted to set up this win-win situation which benefits charity supporters and homeless people by allowing supporters to know that their savings are doing good for people in need and enabling them to retain their investment in a reputable Society with all the protection and flexibility this brings.
Homelessness is an issue that has really struck a chord with our staff, many of whom have taken the opportunity to view at first hand the life-changing activities of Framework. Hopefully others will follow this lead in the future,” he added.