New Fund to Link Housing and Health Care

A first-of-its-kind $100 million investment fund to expand access to health care and affordable housing for low-income residents is being launched by Morgan Stanley, The Kresge Foundation, and the Local Initiatives Support Corp. (LISC). The Healthy Futures Fund is being seeded with capital to build 500 housing units with integrated health serves and to construct eight federally qualified health centers that will serve an estimated 75,000 people. It is designed to spur collaboration between health-care providers and housing developers who do not often work together even when they operate in the same low-income neighborhoods and serve the same people. The fund is utilizing federal low-income housing tax credits, federal New Markets Tax Credits, grants, loans and guarantees to raise capital.

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