L&Q launches £250m charitable foundation
L&Q has announced the launch of a charitable foundation which will invest £250m into supporting its social housing tenants and the wider communities in which it works. A brand new training academy has been launched alongside the foundation, offering apprenticeships and career opportunities.
An event to celebrate the launch was held at the House of Commons on Wednesday 10th January.
The Foundation has been relaunched to reflect L&Q’s ambitious new growth objectives following the merger with East Thames.
Over the next three years, the L&Q Foundation will oversee programmes to support tenants and their families, offering employment and tenancy support services and developing aspirational and educational opportunities.
The Foundation will continue to work with like-minded organisations, scaling up existing projects and forging new partnerships. It will also invest in grass-roots projects through Place Maker 2020, a new pan-London fund launching in spring.
A new L&Q Academy has been launched offering apprenticeships, graduate programmes and staff development. Through the Academy and Foundation, L&Q’s combined employment support offer aims to get 1,000 residents a year into work or better work, with a specific focus on addressing skills shortages.
Speaking at the launch event, Vicky Foxcroft, MP for Lewisham, Deptford, said: “Housing associations have such a vital role to play in building more affordable homes, but they also play a huge part in helping create a sense of community in our neighbourhoods. Through the L&Q Foundation residents can benefit from financial advice, advice with benefits as well as opportunities in education and training and these services make such a difference to people, giving them the best chance of success.
David Montague, Chief Executive of L&Q, said: “The L&Q foundation and the Academy will see us broaden and grow our investment in communities to match our increased ambition. At L&Q it is our core belief that no one should be denied the opportunity to fulfil their potential because of where they live, which is why we have dedicated £250m into helping those within our communities, giving them the chance to achieve that potential and thrive.”
Matt Corbett, Director of the L&Q Foundation,said: “Our plans for the Foundation and Academy are ambitious and our commitment to them is long term. For us it is crucial that we remain rooted and connected to the people and communities we serve. We want to create a social legacy that mirrors that of our building programme in ambition and we hope to do this in partnership with local groups, organisations and charities who share our passion and commitment to changing lives and enhancing communities.
Last year more than 20,000 people benefited from projects supported by the Foundation.