HAN member Allina Health is a signatory to the HAN Place-based Investing Commitment and has committed 1% ($30 million) of its total investment portfolio for place-based investing to address issues intersecting with social determinants of health, such as affordable housing for homeless households. The health system invested $3 million with the Greater Minnesota Housing Fund (GMHF) to build affordable apartments in south Minneapolis, which allowed for lower interest rates for the project. Allina estimates that its $3 million will yield more than $40 million worth of affordable housing construction over seven years and GMHF will then repay the $3 million investment.
From the Becker’s Hospital Review article:
“We stepped back and asked, ‘What more can we do?'” Allina’s president and CEO, Lisa Shannon, told Becker’s. “We were already deep in assessing and connecting our patients with social determinants of health for community services. We were already doing that on significant levels, but we said, ‘Let’s take a look at our own investment portfolio.'”