News / Investment
Impact investor backs plan to turn empty homes into affordable housing
A Bristol-based social impact investor has joined forces with a national organisation to turn long-term empty homes in the UK into affordable housing.
Resonance has secured a £1m investment from Nationwide Foundation to help bring plans to fruition.
The funding will be channelled through the Resonance Community Developers (RCD) Fund, which provides loans to community organisations to acquire and refurbish vacant properties that have been empty for more than six months.
Resonance chief executive Daniel Brewer said the investment “demonstrated the impact that purpose-led finance could have on tackling the housing crisis”.
The impact investor won a national award in 2025 for tackling homelessness – photo: Resonance
He said: “There are over one million empty homes in England, including over 300,000 which have remained unoccupied for longer than six months. Meanwhile, communities remain in dire need of housing. This needs to change.
“Nationwide Foundation’s £1m investment into the Resonance Community Developers Fund is a powerful demonstration of what mission-driven capital can achieve. It will unlock empty homes, support local regeneration and create lasting impact in areas where affordable housing is desperately needed.”
Combined with government grant funding, the investment creates an initial commitment of at least £1.67m and is expected to support the redevelopment of 30 to 40 empty properties across the UK, while ensuring they remain affordable in the long term.
The initiative comes amid growing demand for housing and aims to unlock the potential of empty properties while supporting local regeneration and community-led housing solutions.
According to recent figures, there are over one million empty properties in the UK, where 309,000 are classified as long-term empty.
“By working with Resonance, we’re supporting a practical, scalable solution that brings those homes back to life – helping more people access safe, affordable places to live while creating lasting social impact,” said Kate Markey, chief executive of Nationwide Foundation
Kate Markey, chief executive of Nationwide Foundation, said: “This partnership is about turning empty properties into real opportunities for people and communities. Home should be the foundation of our lives, yet we have record numbers of people living in temporary accommodation, awaiting social housing or living in unsustainable private rented homes whilst too many properties sit unused.
“By working with Resonance, we’re supporting a practical, scalable solution that brings those homes back to life – helping more people access safe, affordable places to live while creating lasting social impact.”
The impact investor received national recognition for its efforts in tackling homelessness crisis in 2025. The official figures suggest that an estimated 3,000 people are currently living in temporary accommodation in Bristol.
Resonance said the fund is designed to create a replicable model for bringing empty homes back into use and attracting further investment into community-led affordable housing projects.
Main photo: Resonance
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