Kaiser Permanente, the nation’s largest nonprofit integrated health system and a Giving Marin Partner, is increasing its financial commitment to economic development and investing in affordable housing across the country. It is doubling the capital in its Thriving Communities social impact investment fund to $400 million. This step comes as part of Kaiser Permanente’s efforts to address the impact of COVID-19 among underrepresented communities, including low-income and communities of color.
The Thriving Communities Fund, which launched in 2018 with $200 million, is on track to create and preserve 15,000 units of affordable housing by 2025. Doubling the fund to $400 million will double the impact to create or preserve 30,000 units before 2030.
“By bringing together the capabilities of the health and investment sectors, Kaiser Permanente can strengthen neighborhoods, improve health and help communities thrive,” said Bechara Choucair, senior vice president and chief health officer for Kaiser Permanente. “Kaiser Permanente supports equitable economic opportunity through its approaches to hiring, purchasing, building, investing and partnering with communities. Ultimately, this work will help our communities overcome systemic and structural economic disadvantages.”
The Thriving Communities Fund’s outcomes to date include preservation or production of over 7,000 affordable housing units located across the country including Los Angeles, Oakland, Sacramento, San Diego and Sonoma County. For more information, visit kaiserpermanente.org.