Enterprise Community Loan Fund Explores Health, Economic and Social Impacts of "Aligning Home and Health Care through Strategic Investment"
Case studies focus on affordable housing and healthcare facilities in Brooklyn and Denver
WASHINGTON - November 10, 2016 – As part of Enterprise’s Health and Housing Initiative to bring the health care and community development sectors together as co-investors in health, "Aligning Home and Health Care through Strategic Investment" adds to a growing body of evidence of the health, economic and social benefits of integrating affordable housing, social services, case management and health care for homeless people.
The report from Enterprise Community Loan Fund (Enterprise) features case studies of CAMBA Gardens I, an affordable housing development on a hospital campus in Brooklyn, New York, and Stout Street Health Center and Renaissance Stout Street Lofts, a co-located health center and affordable housing development in Denver, Colorado.
A live online event open to the public on Thursday, November 17 at 2:00 p.m. ET will detail lessons from "Aligning Home and Health Care through Strategic Investment," highlighting how housing and health care providers are collaborating on solutions to meet the needs of the homeless and low-income households while creating broader societal and economic benefits (Register).
"CAMBA Gardens I and Stout Street Health Center and Renaissance Stout Street Lofts demonstrate innovative programs at the intersection of health and housing for the chronically homeless," said Lori Chatman, president of Enterprise Community Loan Fund and a senior vice president of Enterprise Community Partners.
"Together, they provide hundreds of families a stable home and serve 13,000 patients per year, offering powerful lessons about how to create healthier communities enriched with opportunity that reduce public costs and improve lives."
Enterprise provided CAMBA Housing Ventures and the Colorado Coalition for the Homeless the early stage financing necessary to bring to fruition their innovative approaches for addressing the needs of their cities’ homeless and low-income populations. These investments provided residents and patients with a solid foundation for improved health and well-being and resulted in the following:
- $16.7 million estimated annual reduction in public-sector health care costs by Stout Street Health Center;
- 79 percent reduction in the number of CAMBA Gardens I residents using emergency rooms multiple times per year;
- 94 percent of permanent supportive housing residents living at CAMBA Gardens I have remained stably housed, often after years of homelessness.
Aligning Home and Health Care through Strategic Investment describes the local context and societal challenges that each of these properties address and the innovative partnerships and investments that enabled them to overcome barriers to development. It shares the stories of residents and patients who are benefiting from these investments, and concludes with a discussion of key factors for success and the important work that remains to address the needs of the most vulnerable.
The U.S. is in the midst of a broad housing insecurity crisis that is affecting nearly 19 million low-income families who pay more than half of their monthly income on housing. Enterprise’s generational goal is to end housing insecurity in the U.S. through quality affordable housing connected to good schools, jobs, transit and health care.
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About Enterprise Community Loan Fund
For more than 20 years, Enterprise Community Loan Fund has strategically invested more than $1.4 billion in communities lacking access to traditional sources of capital. Enterprise Community Loan Fund is one of the nation’s largest U.S. Treasury-certified Community Development Financial Institutions (CDFIs). As part of the Enterprise Community Partners family, Enterprise Community Loan Fund works to deliver the critical financing needed to ensure that everyone has access to affordable homes connected to jobs, transit, quality schools, and health care.