HAN member Dartmouth Health is joining 7 other local and mission-driven employers to invest in the new Upper Valley Loan Fund to help finance the construction of 260 mostly below-market rate apartment units in northern New England. The $10 million fund will help address the chronic shortage of affordable housing in the rural region which especially impact low- to moderate-wage earners. Dartmouth Health was a significant contributor in bringing the fund concept to the area by encouraging a diverse group of local anchors and socially minded local employers to explore innovative investing models from other places, adapt them for a rural setting, and work together along with a regional financial partner specializing in low-income housing investments to help create and manage the fund.
From the article:
“The lack of affordable housing in the area is one of the reasons Dartmouth Health . . . is struggling to fill 1,900 open positions, according to Carolyn Isabelle, director of workforce development at DHMC.
“We’re seeing when it comes to housing is that candidates are accepting offers and then withdrawing that acceptance when they start to look around for housing … it’s a minimum of 30 to 60 minutes away and with the price of gas recently that commute is becoming less and less feasible,” Isabelle said.