People, Potential, Possibilities (P3) is a national charity and social enterprise operating across Buckinghamshire, Cambridgeshire, Derbyshire, Gloucestershire, Lincolnshire, Warwickshire and the West Midlands, delivering services for socially excluded and vulnerable people.
P3 was founded in 1972 in response to a homeless crisis in the Black Country, culminating with the building of a first hostel in 1985. Over 9,000 people used P3’s advice services between April 2017 and March 2018. Although primarily concerned with supporting people to exit the streets, P3 also offers mental health support services, youth services, justice services and community support and advice. Demand for P3’s services is increasing, and acquiring additional accommodation will support the charity in meeting an unmet demand in the city, aiding vulnerable individuals caught in the gap between needing greater levels of support, and moving on with their lives successfully. By enabling P3 to purchase suitable properties at scale and in a low risk way, P3’s accommodation services will also become more sustainable and alleviate reliance on private or social landlords.
SASC has made a £3m investment in P3 through Social and Sustainable Housing (SASH) fund. As a result, P3 will be able to purchase 34 properties over an 18-month availability period. The SASH loan is unique in that it allows organisations to scale in a low risk way, since it has the capacity to absorbs uncertainty around voids, rents and house prices, risks that would normally sit with the borrower.
The SASH loan will enable P3 to grow its existing services, with the acquisition of a new portfolio of 34 one-bed and two-bed (shared) properties in Wolverhampton, offering 54 people somewhere safe to stay as they overcome personal challenges and lead more fulfilling lives. The loan will specifically support the growth of P3’s provision of move-on supported housing, which is part of the homelessness pathway services provided in Wolverhampton.