HAN member Intermountain Health announced a $10 million investment in a partnership with NewWest Community Capital, a community development financial institution (CDFI), to develop affordable housing. NewWest has projects in Utah, Montana, Idaho, Arizona, New Mexico and Nevada.
In Utah, 40,000 renter households earn less than $24,000 a year so they struggle financially, having to pay 50 percent of their income toward housing and utilities.
From the Utah Business article:
Nick Fritz, director of impact investing at Intermountain, says the purpose of impact investing is to support place-based initiatives that contribute to health and well-being.
Part of the reason Intermountain is focusing on place-based investing is due to its membership in the Healthcare Anchor Network, a unique organization started in 2017 that is rallying large hospitals nationwide to throw their resources and clout into impacting their communities, Fritz says.