The Thames Reach Ace project ran from the
winter of 2012 to the spring of 2016, helping long-term rough sleepers
off the streets and into stable accommodation.
Tasked with turning around the lives of
416 individuals, Ace was based on a groundbreaking funding model
involving payment by results, along with social investors putting up
large sums of money to meet running costs.
The scheme had a series of targets to meet in order to trigger these payments:
To reduce rough sleeping in the capital
Help people move away from the streets and out of hostels and to move into and sustain stable accommodation
Helping to reconnect individuals with their families or services in their homeland
Helping people to find work, volunteering opportunities or vocational qualifications
Help people improve their health, mange their healthcare better and reduce admissions to A&E
In addition to the reduction in rough
sleeping, 109 people are now in stable accommodation as a result of Ace, and are getting
support to ensure they don’t return to the streets, along with help to improve their health
and encouragement to become part of their local community.
Commissioned by the Greater London
Authority as a Social Impact Bond, Ace attracted investment from a
number of sources, including a £250,000 loan from Big Issue Invest.
The Thames Reach Ace service was staffed by
‘personal navigators’ who engaged with the homeless men and women, and
negotiated on their behalf with support agencies.
For more information please email firstname.lastname@example.org