HOUSING and regeneration group Torus will invest more than £12m directly into community initiatives over the next two years to address the hardship caused by the coronavirus pandemic.

The funds are gifted to Torus’ charitable arm the Torus Foundation, so that they can be targeted effectively at people and places that need it most.

The majority of this investment will be spent on critical support for older and vulnerable people and those experiencing financial deprivation. However, the money will also be used on innovative programmes designed to build skills and improve the employability of local people. The aim is to emerge strongly from the pandemic and build resilience across communities for the longer term.

As the North West’s largest provider of affordable homes, Torus operates in some of the most deprived areas of the UK, where substantial inequalities existed long before the current crisis.

The group’s mission of ‘growing stronger communities’ means that improving and regenerating neighbourhoods is the priority. The Torus operating model is designed to make such ambitions possible, even in the most difficult circumstances. So, at a time when other businesses are cutting back, Torus is increasing its investment on the back of long-term commercial success.

Group chief executive, Steve Coffey said: “Our operating model is designed to generate surpluses through our commercial businesses, HMS and Torus Developments. As a social entrepreneur, this income is then reinvested into meaningful social initiatives through our charity, Torus Foundation.

“Every property we let, every new home we build, every contract we win – every penny we make is reinvested in our communities to improve lives and life chances.”

St Helens Star:

Torus Group chief executive, Steve Coffey and Torus Group chair, Graham Burgess

As with businesses across the country, Torus’ operations were impacted at the height of the pandemic. Commercial subsidiaries HMS - and Torus Developments were most affected.

Despite this, the urgent need to respond to their tenants and communities in crisis meant that a short-term solution built around the flexibility of the Group’s operating model received wholehearted Board support.

“Right now, the people living in our homes and local communities have never needed us more and significant investment is required to support those living in hardship and protect those at risk from being left behind socially and economically.

“We have already pledged to invest at least £5m each year through Torus Foundation. Over the next two years, we’ll be honouring that pledge together with an additional investment of £2m, aimed at immediately addressing some of the most pressing problems our communities are facing.”

This investment from Torus is just part of a long-term partnership with local authorities in St Helens, Liverpool and Warrington that will help stimulate economic recovery.

Over the next two years, the group will also invest £200m building genuinely affordable homes and spend a similar amount in the local supply chain. Investment that will help sustain local businesses and unlock new skills, training and employment opportunities.

Mr Coffey added: “As a group, we are determined to step up at what is an unprecedented time of need for people. Our commitment to growing stronger communities has never been more important than it is right now.”