$3 million investment from JPMorgan Chase to drive direct investments in 19 affordable housing nonprofits to enhance resident services and provide rent relief and supporting critical peer exchange and public policy work
Stewards of Affordable Housing for the Future (SAHF) and The Housing Partnership Network (HPN) today announced a joint response to enhance resident services and supports that are urgently needed during the global pandemic to maintain renter housing stability and support households on the path to economic recovery and resilience.
The collaboration between two national housing intermediaries, representing over 100 nonprofit members, is leveraging a $3 million investment from JPMorgan Chase to provide rent relief and expand critical services that support housing stability for more than 7,500 households served by 19 affordable housing nonprofits in seven states (California, Illinois, Maryland, Minnesota, Ohio, Texas, Virginia and Washington, D.C.). The grant also supports COVID-related peer exchange and public policy work facilitated by both SAHF and HPN. Throughout 2021, the two organizations will convene the 19 sub-grantees to ensure novel ideas and best practices to support residents of affordable housing are shared and replicated as well as to shape non-partisan public policy analysis that promotes long-term housing stability during the eventual economic recovery.
“Access to safe and quality affordable housing is essential to thriving communities, but is out of reach for many people,” said Abigail Suarez, Vice President, Global Philanthropy at JPMorgan Chase. “At JPMorgan Chase, we are committed to advancing racial equity and economic inclusion for underserved households by using our business, philanthropy, policy and research expertise.”
During 2020, several flexible sub-grants were made available to select SAHF/HPN members to fund resident services and coordination and provide rent relief for impacted households as a critical pathway to housing stability through the COVID-19 crisis and beyond. Participating organizations are AEON, AHC Inc, BRIDGE Housing Corporation, CHN Housing Partners, CommonBond Communities, EAH Housing, Foundation Communities, Hispanic Housing Development Corporation, Homes for America, Mercy Housing, Montgomery Housing Partnership, National Church Residences, National Housing Trust, Preservation of Affordable Housing, Operation Pathways/NHP Foundation, Prospera Housing Community Services, Tenderloin Neighborhood Development Corporation, The Community Builders and Volunteers for America. Funded resident services include expanded digital access, job readiness and economic mobility, childcare and food security programs.
SAHF CEO Andrea Ponsor and HPN Executive Vice-President, Capital Markets, Kim Dempsey are grateful for the partnership and support of JPMorgan Chase. Says Ponsor, “the COVID-19 pandemic has disproportionately impacted people of color and people of limited economic means, including those living in affordable rental homes. The resident services systems that nonprofit affordable housing providers have in place have been invaluable and the support of JPMorgan Chase to expand these services has helped connect thousands of people to resources they need to remain in their homes.” Adds Dempsey, “Deep and sustained peer-to-peer learning has proven essential to our members’ ability to manage through major disruptions — such as the 2008 financial crisis, Hurricane Katrina, and now COVID-19 — learn from each other and quickly replicate best practices around emerging needs.”
About SAHF
Stewards of Affordable Housing for the Future (SAHF) is a national collaborative of 13 nonprofit affordable housing developers whose mission-driven alliance accelerates resident-centered policy changes, equitable investments and sustainable solutions for the affordable rental housing sector. Together, our members own, operate and manage affordable rental homes in 49 states, DC, Puerto Rico and the Virgin Islands. SAHF works to translate policy into practice through its high-impact members, and advocates for best practices that contribute to healthy, equitable communities. Learn more at http://www.sahfnet.org, follow @SAHForg on Twitter and visit on LinkedIn.
About HPN
Housing Partnership Network (HPN) is an award-winning business collaborative of 100 of the nation’s leading affordable housing and community development nonprofits as well as an Aeris-rated CDFI and HUD-approved housing counseling intermediary. Since our founding in 1992, HPN has collectively served almost 12 million people; developed, rehabilitated, or preserved over 400,000 affordable homes; and launched 14 successful social enterprises. Our work has been recognized with honors including the MacArthur Award for Creative & Effective Institutions and Wells Fargo NEXT Award for Opportunity Finance. Learn more at http://www.housingpartnership.net and follow @HPN_Network on Twitter and visit on LinkedIn.
Source: Pr Web
