Health – Is it Worth a $13 Million Risk?
When big time funders come together to invest in Southeast Raleigh, especially when local funders took a pass, people take note. Upwards of 130 people recently gathered at Shaw University to support Advance Community Health and its transformation into a national model for delivering community health services. However, it was the words of Emily Chen, Program Director for Health Center Financing at LISC, that participants will take to heart.
“Comprehensive care means more than healthcare,” said Chen, who flew in to keynote the event from LISC’s New York office . “This project illustrates one of our key goals– to build nontraditional alliances that can help support healthy communities.” As an example, Chen pointed to Advance’s recent collaboration with DHIC to assure those living in public housing have a primary care medical home. “Success on community development really hinges on partnerships,” said Chen, adding “It’s an example of how public-private partnerships can achieve better outcomes.” In addition to LISC, the $13 million financing package includes Mercy Housing, Kresge Foundation, Capital Impact Partners, and Morgan Stanley. Chen noted that the Raleigh investment marked the first time this collaboration has joined forces on a project of this scope. It speaks to underwriter confidence that this project will enhance property values in the neighborhood. “There is no road map for this kind of work…together, however,
we can make a difference,” said Chen.