NJ Hospitals, Financing Agency Team Up to Invest in Local Housing

The New Jersey Hospital Association and New Jersey Housing and Mortgage Finance Agency this week announced a partnership to promote hospital investment in supportive housing in their communities. As part of the partnership, the New Jersey HMFA will invest in up to three projects with elements such as affordable housing with units set aside for frequent users of hospital emergency services or community-based health care services. Participating hospitals will match the HMFA funds with an investment in their communities. “It is well documented that where and how people live directly affect their well-being,” said NJHA President and CEO Cathy Bennett. “Those experiencing housing instability are likely to be hospitalized more frequently with longer lengths of stay and require more care than patients with stable living arrangements. This new pilot partnership with HMFA will help our hospitals improve community health by developing housing for community members in need.”