Land Securities and Canary Wharf Group unveil the 20 Fenchurch Street Legacy Fund
6 July 2015
Land Securities and Canary Wharf Group, in partnership with the East End Community Foundation (EECF), have announced the launch of the 20 Fenchurch Street Legacy Fund. The fund, which is now open to applications for grants, aims to improve employment prospects and opportunities for people living in some of London’s most deprived areas.
Grants of up to £20,000 per year will be given to not-for-profit organisations which support people living in the boroughs of Hackney, Newham, Tower Hamlets and City of London into employment. EECF, which is managing the fund of behalf of 20 Fenchurch Street’s joint developers Land Securities and Canary Wharf, will prioritise innovative and effective projects which support participants to gain essential employability skills, provide them with work or volunteering experience and move people into employment.
The fund was launched on Friday morning at an event held at the Sky Garden, the unique public space on the top floors of 20 Fenchurch Street, and coincides with the 25th anniversary of EECF. EECF is dedicated to improving the quality of life and opportunities for people living in East London and, by funding grass roots organisations, aims to raise educational achievement, enhance employability and increase social cohesion in this part of the capital.
Following a £25,000 contribution to the seed fund from both EECF and Canary Wharf Group they, and Land Securities, will now work together to raise money for the fund via service partners and companies based at 20 Fenchurch Street, as well as through voluntary donations from visitors to the Sky Garden. To further support its philanthropic efforts, EECF has also launched a unique endowment match programme which offers donors the chance to boost their donation by up to 50%. Allocated on a first-come, first-served basis, EECF is making £1million worth of match funding available to new and existing donors who choose to set up or contribute to an endowment.
Sir George Iacobescu CBE, Chairman and Chief Executive of Canary Wharf Group, announced a £25,000 contribution to the 20 Fenchurch Street Fund and an additional £25,000 to match future donations by others. Sir George said: “We are very proud to be part of the east end of London. For centuries it has been the east end which has been the motor of London’s economy. Once, it was the docks and factories. Today it is Canary Wharf, Tech City and the knowledge economy.
“At Canary Wharf we know that it is a privilege and a responsibility to be part of this community. If we are going to succeed over the long term we must work with our friends in the local councils, in schools and in community groups. What we build will last for 100 years or more. So what we should be creating is not just buildings but a new sustainable part of the city, which will still be working well for local people many years into the future. That means investing in the people and the communities as well as buildings and infrastructure.
“We work with East End Community Foundation because they have a deep understanding and links to local groups and projects. The 20 Fenchurch Street Legacy Fund is a wonderful new initiative, bringing together the developers and tenants of the building, to help create and fund new opportunities for local people”
Tom Elliott, Head of Portfolio, City at Land Securities, said:
“Many of the people who helped build 20 Fenchurch Street were previously unemployed Londoners who either completed training on site or transitioned into full employment here as part of Land Securities’ Community Employment Programme. Having worked with partners across the industry to ring-fence jobs and training opportunities during the construction phase, it seems fitting that the building will have a long-term legacy supporting employment prospects for people who might not otherwise get access to these opportunities.”
Tracey Walsh, Chief Executive of EECF, said:
“We’re delighted that Land Securities and Canary Wharf Group chose EECF to set up and manage the 20 Fenchurch Street Legacy Fund. We pride ourselves on our deep understanding of the needs of communities in the East End, so are perfectly placed to ensure the fund supports high-quality, sustainable projects which create lasting change.”