Addressing Local Housing Needs through State Housing Agencies & Health System Partnerships

About this Project

State Housing Finance Agencies (HFAs) are independent agencies that provide critical subsidies like tax credits, loans, and other financing for housing and community development.

Each state has its own HFA whose programs target local housing markets and the needs of borrowers with low and moderate incomes.

Following a model initially developed in New Jersey in 2018, multiple HFAs are today pursuing partnerships with hospital and health systems that have available land and buildings that can be repurposed for housing.

A $5 million loan and companion grant to Colorado Housing and Finance Agency (CHFA) will help it coordinate with local health and hospital systems to build a pipeline of housing projects that simultaneously aim to improve health outcomes, meet local housing needs, and create more equitable, sustainable, affordable, and healthy places.

RWJF’s longer-term goal is that influencing the behavior of HFAs is an opportunity to influence the entire nationwide network of HFAs and the hundreds of millions of dollars they direct annually.

Learn more: www.chfainfo.com

Challenge

Nearly half of Colorado renters and one in five homeowners are “cost-burdened,” spending more than 30 percent of household income on housing costs. In fact, Colorado is the eighth most expensive state for renters in the United States and homeownership has also become increasingly unaffordable. 

Between 2017–2023:

• Median home prices increased by 26% 
• Monthly home payments increased by 71%
• Income increased by 14% 

Colorado also faces rapidly increasing construction costs and property insurance premiums, and a record number of unhoused people, straining state and local government resources. 

Solution

In 2022, CHFA was one of six HFAs chosen to explore collaboration with health and hospital system partners with RWJF funding and technical assistance from the Center for Community Investment. 

The HFAs serve as the “community quarterbacks,” meaning they coordinate partners and resources. Each brought in leaders from other state agencies to align goals, program requirements, and timelines to create a state-level, system-wide approach to integrating the financing of housing and healthcare.

RWJF’s loan and companion grant will enable CHFA to implement the Housing, Health and Equity Partnership Plan it developed with the initial grant and collaborate with Denver Health Hospital Authority, Tall Tales Ranch, and The Tapestry. 

The partners will pursue several specific health-housing partnership models, including rental and homeownership housing units for health sector employees and neuro-inclusive housing for people who are intellectually or developmentally disabled. The priorities were established through a health needs assessment and extensive community engagement.    

In the Spotlight

The Tapestry

Developed by Gorman and Company, The Tapestry is a forthcoming affordable housing development in Denver’s Uptown neighborhood that will include 72 affordable apartment homes ranging from one to four bedrooms, as well as an early childhood education center and an onsite health clinic. The Tapestry project’s direct success is connected to its partnership with the Colorado Health Foundation.  

The Colorado Health Foundation is a statewide philanthropic organization that champions health and wellbeing for every Coloradan. It purchased land to create an entire block as a campus of wellbeing. The land was donated to the project with the vision of creating a multigenerational and family-centered affordable community that cultivated an environment of possibility and belonging. The campus will be inclusive, service-enriched, and support health and economic opportunities for individuals and working families. The campus will provide the services residents need to lead healthy lives with an onsite health clinic, onsite early childcare center, access to a spectrum of affordable housing, and curated community services.

Impact Goals

• Support the development of quality, safe, affordable rental housing with an eye toward the social determinants of health, facilitating resident access to onsite services including education and healthcare. 
• Provide opportunities for individuals and families spanning generations and cultures to affordably live in convenient proximity to employment opportunities, public transportation, and other neighborhood amenities. 
• Build on successful public private partnerships, including leveraging investments from CHFA, The Colorado Health Foundation, the City and County of Denver, Hope Communities, and Deneuve.

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