October 19, 2020

Philanthropic Funding Supports California Project Homekey

In partnership with the State of California’s Department of Housing and Community Development and with funding from Kaiser Permanente and Blue Shield of California, Enterprise will deploy $45 million  to support operating costs and wraparound services for more than 2,100 homes assisted by Project Homekey.

Project Homekey is California’s $800 million program to purchase and rehabilitate buildings – including hotels, motels, vacant apartment buildings and other properties – and convert them into permanent, long-term housing for people experiencing or at risk of experiencing homelessness. All Homekey projects matched with the philanthropic funds will be supported with technical assistance from Enterprise to ensure the successful implementation and long-term viability of the program. 

Project Homekey fulfills a critical need for interim and permanent housing for people across the state who are experiencing or at risk of homelessness, and who are impacted by the Covid-19 pandemic. Twenty-seven percent of the country’s homeless population resides in California, and on any given night more than 150,000 California residents are unsheltered. Further, California’s homeless residents are at particularly high risk for Covid-19, because of unhealthy and clustered living, paired with poor access to health care and essential services. 

California has allotted $750 million in funding from the federal Coronavirus Relief Fund  to assist local public entities in purchasing and converting buildings into service-enriched homes. In addition,  the state has appropriated $50 million in general fund dollars to pay for the operating costs.  

Because the state’s capacity to fund operating reserves is limited, under-resourced cities and counties are particularly challenged in developing feasible housing under Project Homekey. Enterprise’s deployment of $45 million – $25 million from Kaiser Permanente and $20 million from Blue Shield of California – will support additional needed operational and supportive services, and reinforce the pathway to safe, affordable and sustainable homes for California’s most vulnerable.

These philanthropic dollars will help some cities achieve functional zero homelessness, while helping other jurisdictions explore innovative solutions such as modular construction. The grants will leverage Enterprise’s expertise in providing technical assistance and build the capacity of trusted housing and service providers supporting our homeless Californians.

For more information, contact Amiel Leaño Atanacio.

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