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Michigan Targeted for New Low-Income Housing Initiative

A new fund called the Healthy Futures Fund worth $100 million could result in new affordable housing for Michigan residents. Michigan is targeted to receive about $25 million of the fund to build low-income housing near new health care centers. Although states across the nation may apply for some of the funds, areas in need such as Michigan, Metro Detroit and Minnesota's Twin Cities region have been identified as likely candidates.

The Healthy Futures Fund is the result of investments by Morgan Stanley, the Kresge Foundation and the nonprofit Local Initiatives Support Corporation, a non-profit company. Anticipating the increase in the number of people who will soon have access to health care under the Affordable Care Act, the investors designed the fund to serve two purposes, providing affordable housing along with easier access to health care centers.

The fund will be used to build 500 affordable housing units and eight health centers that meet federal guidelines. It is estimated that about 75,000 people will be able to receive health care from the new health centers. The plan is to not only provide affordable housing for low-income residents but also make sure individuals and families in low-income neighborhoods also have access to needed health care services.

The investors plan to continue searching for more partners to join the fund, enabling them to serve other communities that are financially limited. The initiative is a unique plan to serve the need for affordable housing and address the need to access health care by low-income families.

For more information, visit www.kresge.org/news/100-million-investment-fund-integrate-health-care-affordable-housing-low-income-communities

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