In recent years, affordable housing developers and healthcare organizations have been working together to construct housing that provides access to health facilities. This partnership has proven beneficial for both parties, as it offers improved community health and financial advantages for managed care groups.
In Oakland, California, Kaiser Permanente is dedicating $400 million to support the development or preservation of 30,000 housing units by 2030. This investment reflects the growing recognition of the importance of affordable and safe housing in promoting community health.
One of the challenges facing affordable housing developers is securing long-term capital. However, low-cost loans have become particularly valuable in light of higher interest rates, financial uncertainties, and rising construction costs. A recent Medicare pilot program known as the 1115 waiver could further encourage collaboration between healthcare providers and affordable housing developers by allowing the use of Medicaid funds for housing initiatives.
Healthcare institutions like hospitals also have a unique advantage in this partnership. They already own land that can be utilized for affordable housing projects. For example, Boston Medical Center and Trinity Health are both in the process of planning affordable housing complexes on their own properties. By leveraging their resources and expertise, healthcare organizations and affordable housing developers can work together to address the growing need for affordable and accessible housing.
In conclusion, affordable housing developers are teaming up with healthcare organizations to construct homes that offer access to health facilities. The benefits of this partnership are clear – improved community health and financial advantages for managed care groups. With continued investment from both public and private sectors, this partnership has the potential to make a significant impact on addressing the growing need for affordable and accessible housing across the country.
