ŗ£½ĒĀŅĀ×

If ŗ£½ĒĀŅĀ× wants to achieve its mission of transforming the health of the communities it serves, one person at a time, advancing health equity is imperative. Research shows that only an estimated 20 percent of health outcomes are linked to healthcare, while the balance is driven by other factors including drivers of health (DOH) such as access to affordable and stable housing.

The ŗ£½ĒĀŅĀ× Foundationā€™s philanthropic efforts focus specifically on investing in programs that improve the lives and health of our members ā€“ not only through access to quality healthcare, but also by reducing the barriers to that care. Its newest initiative, announced Monday, is designed to do this by accelerating the development of affordable housing, which is needed nationwide. In 2023, the National Low Income Housing Coalition (NLIHC) reported a nationwide of 7.3 million affordable homes in the US.

The multiyear partnership with esteemed St. Louis firm McCormack Baron Salazar (MBS), one of the nationā€™s leading developers of affordable housing, will provide predevelopment loans to advance low-income housing projects. This type of funding is hard to come by for developers in this space, but critical to launch projects that address the growing need for affordable housing. The loans are anticipated to enable approximately $900 million of direct construction-related activity, supporting the creation of thousands of affordable housing units in low-income communities across the country. ŗ£½ĒĀŅĀ× sees this as a crucial gap to fill in advancing health equity, which makes it a crucial issue for our members.

ā€œHaving a safe, stable and affordable place to call home gives a person the foundation they need for a healthy life,ā€ said ŗ£½ĒĀŅĀ×ā€™sĢżChief Health Officer Dr. Alice Chen. ā€œIt can help limit exposure to unsafe conditions and stress as well as increase their likelihood of receiving primary and preventive care.ā€

This initiative will facilitate the development of units that will make a meaningful difference in the lives of many of ŗ£½ĒĀŅĀ×ā€™s members and their communities. In addition to providing homes for thousands, it will also create valuable first-floor commercial space that can potentially be used for clinics, grocery stores, gyms or other resources that can benefit the health of the community.

MBS has deep experience working on this type of project. As the nationā€™s leader in affordable housing development, MBS has completed 239 housing developments across 27 states and territories over the last 50 years.

While this method of funding is new for the ŗ£½ĒĀŅĀ× Foundation, tackling the housing crisis and homelessness is not. The ŗ£½ĒĀŅĀ× Foundation has partnered with organizations in several of ŗ£½ĒĀŅĀ×'s markets in recent years on related initiatives.

In Pennsylvania, the Foundation and Pennsylvania Health and Wellness with Habitat for Humanity of the Greater Harrisburg Areaā€™s Critical Home Repair program, which helps keep low-income families in their existing homes with home repairs to increase safety, accessibility and livability.

In California, the ŗ£½ĒĀŅĀ× Foundation provided a grant for the in South Los Angeles. This housing facility, which has 86 family units, has housed 246 previously homeless families since opening in April 2022.

ŗ£½ĒĀŅĀ×'s health plans also support additional housing initiatives in several markets, further extending the broader enterpriseā€™s impact on housing and homelessness.

ŗ£½ĒĀŅĀ×'s Chief Charitable Giving Officer and ŗ£½ĒĀŅĀ× Foundation President, Keith Williamson, is thrilled to continue this work in partnership with a leader in the industry that also happens to be based in ŗ£½ĒĀŅĀ×'s hometown of St. Louis.

ā€œMBS has a long and successful history of bringing affordable housing projects to fruition, and we are grateful to have their partnership on this important initiative,ā€ Keith said. ā€œWorking together, weā€™ll be able to have a major impact on member communities that we couldnā€™t deliver alone.ā€