[Youth Hostel] Fortune Loft。Co-Living by TWGH

In promoting sharing of social capital to address the housing needs of young people, Tung Wah Group of Hospitals (TWGH) has introduced “Fortune Loft Co-Living” (the Project).  By renovating a tenement building located at the junction of Fuk Tsun Street and Lime Street, the Project provides young people with an affordable place and platform for co-living.

Objectives of the Project

1. To provide young people with the “Co-living Model” as an alternative living option.
2. To encourage young people to interact and support each other through co-living, apart from providing affordable living places.
3. To encourage young people to develop a saving habit; a saving scheme is in place to help them prepare for the future.
4. To encourage young people to build a sense of belonging to the community they live in through their participation in the “Good Neighbour Scheme” in which they pay visits to elderly people and help organise neighbourhood-building activities.

Co-living Model

- Rooms shared with 2 to 3 tenants
- Shared public area - including kitchen, washroom, bathroom, living room, rooftop, etc.
- Shared household chores, sharing of skills and supporting each other.

Saving Scheme

- The Scheme is set up to promote the saving habit. Tenants are encouraged to set up a monthly saving plan, upon completion of which they will be entitled to a proportional matching subsidy.
- The proportion would be 3:1. For example, if a participant saves HKD300, the Scheme will match it with HKD100. The maximum matching amount is HKD1,200 per month.  The total sum will be released upon completion of the saving plan for participants to pursue further personal development.
- Eligible tenants are required to deposit the amount to a designated account and submit the monthly bank statements for the Scheme’s record. Matching subsidy for the month will not be granted if for any reason the amount has not been saved to the account.
- Tenants are required to notify the officer-in-charge in case part of the saving needs to be withdrawn in the event of unanticipated situations such as unemployment, urgent medical needs, etc.

Good Neighbour Scheme

- To encourage young people to contribute to the neighbourhood so as to enhance their sense of belonging, tenants are required to participate in the "Good Neighbor Scheme" (minimum 30 service hours per year) to build a co-living community together.
- Activities include visiting the elderly in the neighbourhood, assisting in maintenance, organising neighbour gatherings and cultural activities, and promoting the co-living idea.

Criteria

- Working youth between 18 and 30 years old (at the time of the application deadline) who is a Hong Kong Permanent Resident, and
- wth a monthly income of below HKD24,100 and personal assets valued below HKD379,875, and does not solely own or partly own any property, and
- acknowledges and agrees to the “Co-living Model” and willing to share skills and information, support each other, also participate in the Good Neighbour Scheme and the Saving Scheme.

Details and how to apply:

http://www.tungwahcsd.org/en/our-services/social-enterprises-and-social-innovation/social-innovation/CO-LIVING/introduction;category/13

Enquiry tel:

2142 0233