Expanding Our Commitment to Equitable, Healthy Communities through Innovative Housing and Hospital Partnerships

Expanding Our Commitment to Equitable, Healthy Communities through Innovative Housing and Hospital Partnerships

New Brunswick, NJ - July 26, 2019

New Jersey Community Capital (NJCC) and Community Asset Preservation Corporation (CAPC), NJCC’s non-profit real estate development subsidiary, are excited to join New Jersey Community Development Corporation (NJCDC) and St. Joseph’s Health in the launch of a groundbreaking new housing and hospital partnership in Paterson, New Jersey. Functioning as the co-developer, CAPC will construct 70-units of safe, affordable homes with access to health and support services for low-and moderate-income families and special needs residents.

The project is the first development under the New Jersey Housing and Mortgage Finance Agency’s (NJHMFA’s) innovative Hospital Partnership Subsidy Program, which promotes investments by hospitals in affordable and supportive housing across their communities. NJCC, CAPC, NJCDC, and St. Joseph’s Health join a growing number of community developers and hospitals effectively collaborating to invest in long-term solutions that reduce barriers to housing and improve health for the nation’s most vulnerable populations. 

”A healthy home and living environment are an essential component of achieving health equity in a community,” said NJCC President, Wayne Meyer. “We believe that housing and health are pillars of a vibrant community. We’re pleased to partner with NJCDC, NJHFMA, and St. Joseph’s to improve the landscape of health in New Jersey, helping to transform our most vulnerable communities into equitable healthy places to live, learn, work, and play.” 

Research demonstrates that supportive housing positively affects housing stability, employment, mental and physical health, and school attendance, leading to more stable and productive lives.   Located on Barclay Street across from St. Joseph’s University Medical Center in Paterson, 10 of the 70 one- to three-bedroom apartments will be occupied by residents with special needs, who will be given access to a variety of social, health, and wellness services that help improve quality of life. 

“We’re proud to work with a dedicated group of partners who are committed to addressing the impact of housing on community health,” said NJCC Chief Investment Officer, Jeff Crum. “Together, we are building equitable opportunities and services that make a difference in the lives of families and individuals who are uniquely in need.”

“As a community organization committed to Paterson’s revitalization, NJCDC is very pleased to partner on this project with NJCC,” said NJCDC Chief Executive Officer, Robert Guarasci. “Like NJCC, NJCDC believes that healthy communities include a lot more than health care itself, and that truly healthy communities include things like decent and affordable housing, job training programs, high quality education, and youth recreation.  Working together, St. Joseph’s, NJCDC, and NJCC can build a stronger, healthier Paterson by addressing these and other social determinants of health.”

“We are very proud to build the first housing unit as part of the Hospital Partnership Subsidy Program and to create a space outside our hospital walls that addresses the health needs within our community,” said Kevin J. Slavin, President and Chief Executive Officer of St. Joseph’s Health. “Access to safe, quality, affordable housing – and the supports necessary to maintain that housing – constitute one of the most basic and powerful social determinants of health.”

Housing is key to maintaining good health. Quite simply, housing is health care,” said NJHMFA Executive Director Charles A. Richman. “Hospitals are anchor institutions in their communities and can play a leading role in the creation of housing that is affordable to families. At the same time, they can take proactive steps to help reduce the health and hospital costs associated with the frequent use of emergency department services and provide the supportive housing needed to sustain healthy living.”

“A healthy community is more than just healthcare,” said Hanaa Hamdi Ph.D., NJCC’s Director of Health Impact Investment Strategies and Partnerships. “Where we live, learn, work, and play profoundly influences physical and mental well-being, economic mobility, and quality of life. Hospital institutions are playing an emerging role in fostering healthy and equitable living environments that effect true systems change and allow our most vulnerable populations to thrive.”

As a Community Development Financial Institution (CDFI), NJCC continues to design resources and tools that drive holistic development and promote equitable and healthy homes for individuals and families in low-income communities. Through cross-sector partnerships and collaboration, we’re able to align capital to finance the creation and preservation of supportive homes that improve the essential wellbeing of those most in need.