Invest in the development of affordable housing
During the past decade, many health care executives have come to see that housing is health care.
Funding housing development reduces long-term health costs, providing individuals and families living below the NPPS with safe, affordable housing.
To get started:
Review best practices, such as those below.
Become an affordable housing developer by directly funding and managing affordable housing units.
Partner with developers to bring the capacities of both sectors into housing development.
Best Practices / Innovative Programs
St. Joseph’s University Medical Center in Paterson, New Jersey is one of many hospitals and hospital systems partnering with developers to provide affordable housing in their communities. New Jersey Housing and Mortgage Finance Agency (NJHMFA) provides financial incentives to nudge New Jersey’s health care systems to actively address the social determinants of health affecting their patients and neighbors by providing hospitals with financial incentives to build housing. About six New Jersey hospital systems have since moved forward with plans to build housing.
United Health Care has invested more than $400 million to build 80 affordable-housing communities throughout 18 states across the United States since 2011. They have built more than 4,500 new homes for low-income individuals and families, people living with disabilities, and those struggling with homelessness.
