HAND Member Spotlight: CSH Transforms Lives through the Supportive Housing Solutions Fund and Innovation
CSH is not new to transforming communities. For more than 20 years, the supportive housing organization has provided capital, expertise, information and innovation to partners to achieve housing stability for those who need it the most. By engaging a practical yet entrepreneurial spirit, CSH has become an industry leader with both national influence and deep connections within a growing number of local communities.
A recent recipient of CSH’s innovative financing solutions was North West Indiana Veteran Village in Gary, Indiana, a soon-to-be-opened 44-unit supportive housing development for at-risk veterans and the homeless. In July 2013, CSH launched the Supportive Housing
Solutions Fund (“Solutions Fund”), a first-ever national loan fund dedicated solely to supportive housing, and they chose the veteran’s community as its landmark investment project.
With an initial investment into the Solutions Fund from the Wells Fargo NEXT Award for Opportunity Finance, CSH engaged philanthropic support from Conrad N. Hilton and Robert Wood Johnson Foundations and garnered further financial support from Bank of America, Deutsche Bank, HSBC Bank and Morgan Stanley.
Since its first investment with the North West Indiana Veteran Village, CSH has provided more than $30 million in financial assistance for the development of supportive housing for families and individuals across the country.
Supportive housing works.
Through its HAND membership CSH has been able to connect with a wide spectrum of affordable housing providers and practitioners to share the benefits of supportive housing. CSH’s unique approach to offering technical assistance, systems changes and lending opportunities help municipalities evaluate their approach to homeless systems; assists developers in underwriting quality projects and finding service partners; and helps service providers improve tenant outcomes.
The benefits of supportive housing are vast. It helps improve housing stability, employment, mental and physical health, and school attendance while also helping to reduce active substance use. People in supportive housing live more stable and productive lives; which, over time, put less stress on local resources by offsetting the high-costs of crisis care, emergency housing and other health and safety aspects associated with homelessness.
For further information regarding CSH, visit www.csh.org.