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Investments help create vital affordable homes
Investments in the Bunker Housing Cooperative investment raise via Ethex help to create affordable homes for people struggling to find quality housing in Brighton & Hove
The Ethex team are celebrating another successful raise on our positive investing platform! The Bunker Housing Cooperative Loan Stock Offer closed at the end of July having hit their target of raising £150,000 to help them build two new homes in their affordable housing portfolio in Brighton & Hove.Thanks to 78 positive investors via the Ethex platform, Bunker Housing Cooperative have secured the funding they need to self-build two quality, co-operatively owned, affordable homes at the Dunster Close Garage site in Brighton, where the housing crisis is hitting local people on a low income hard.
Thanks to these investments - which are targeting a return of 2% per annum over the 10-year term - two more families will secure new, affordable and cooperatively managed homes. And we want to say a massive thank you to all the investors who have helped make this a reality.
The homes that Bunker are creating are not only permanently affordable, but they are also fit for the future, both in terms of the quality of the build and their high sustainability and energy efficiency credentials.
Bunker Housing Co-operative was established in 2014 by a group of low-income families who had been trying to find affordable housing in the area. They are determined to turn the crisis around by creating a total of 9 new homes, transforming unused council-owned land in Brighton & Hove into sites for secure, affordable and decent rental housing for local people. The 2 & 3-bedroom houses will be planned, built and managed cooperatively and rented affordably to a waiting list of families in need of homes.
Helen Bartlett of Bunker Housing Cooperative says:
"We are so grateful to everyone who has invested or helped us by spreading the word. It has been a difficult time to run a crowd fundraise, with the cost-of-living crisis and many people understandably worried about their finances. But more than ever, we need decent, affordable, sustainable housing and now, with the support from this raise, we will be able to build our next two homes for families who need them, with more in the pipeline. For anyone who would like to follow this journey and receive updates on progress, please join our mailing list”
Ethex is delighted to have been a part of this success story for Bunker Housing and we look forward to welcoming them back on the platform for future raises.
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