HAN member Kaiser Permanente’s impact investments in affordable housing continues with project in New Mexico and California.
In California, Kaiser Permanente has committed $50 million to the SDS Supportive Housing Fund, an innovative real estate impact fund that is seeking to build up to 1,800 financially sustainable permanent supportive housing (PSH) units for people experiencing homelessness in California. The fund’s approach will allow for PSH to be rapidly built. Units will be developed statewide, but predominantly in the Los Angeles area, which has a significant and growing homeless population. The $106 million fund is managed by SDS Capital Group, and has an exclusive financing relationship with RMG Housing (RMG), an affordable housing developer based in Los Angeles. One recent groundbreaking was for the Dolores Huerta Apartments in South Los Angeles, named after the famous civil rights leader, which will build 40 affordable homes.
In New Mexico, Kaiser Permanente was one of several health providers and health care advocates helping to finance a new campus in Live Oak, which will include two health clinic buildings to serve low-income residents and four residential buildings with affordable units.
From the article:
[T]he project would not have happened had former supervisor John Leopold not suggested that both housing and health care could coexist, even thrive, at the site, according to Storm. With his leadership, the Board of Supervisors approved the mixed-use development in November 2019.
Watch the ABC 7 video on the South LA project now
Read the Santa Cruz Sentinel article on the New Mexico project now