Triple Point Social Housing REIT – a real estate investment trust – has invested £5.4m in the construction of a “state-of-the-art” building in Edinburgh that will provide self-contained homes for 24 people with learning and physical disabilities.
The property was commissioned directly by Edinburgh City Council to meet the significant demand for this type of housing. Construction began last September and is expected to complete by the end of 2020. The Heron Court property will have adaptations such as wetrooms, a warden call system and a lift.
Triple Point has also pumped money into a property in Dalkeith. Built in 2011, the building benefits from £823,000 of improvements such as wetrooms, window restrictors, thermostatic valves and disability ramps.
The project has allowed five friends with learning and physical disabilities to remain together after their care home’s operator lease expired.
Max Shenkman, head of investment at Triple Point, said: “Like our investment in Edinburgh, our investment in Dalkeith represents further commitment to using private capital to create a social impact for some of the most vulnerable people across the UK.
“We look forward to funding the development of additional housing stock in Scotland and elsewhere that will enable people to live in the homes they need and deserve.”
By the end of September 2019, Triple Point had funded the development of 366 new social housing homes across the UK providing homes-for-life for more than 2,500 individuals.