Volunteers of America National Services (VOANS) has established a Housing for Health & Justice Fund to leverage its experience and assets to advance a solution to the national crises of housing and health injustices.
VOANS, the housing and health care affiliate of Volunteers of America, intends to raise $25 million of flexible, catalytic capital to support the organization’s commitment to improve the health and wellness of vulnerable Americans where they live—by providing a stable, safe, and long-term solution of affordable housing.
The new fund will facilitate more than 2,000 units of housing with health supports being preserved or created. While VOANS operates across the country, its key areas of focus are Northern California; the Washington, D.C., metro; Colorado; Texas; Minneapolis and St. Paul, Minnesota; Raleigh-Durham, North Carolina; and Puerto Rico.
The nonprofit organization, one of the nation’s largest affordable housing owners and developers, aims to acquire and develop affordable housing in underserved rural counties, increase affordable housing options in neglected urban areas for BIPOC households, include resident support services in new development projects, ensure broadband wireless internet access for residents, and enable seniors to “age with options.”
In addition to its own equity, VOANS hopes to collaborate with foundations, financial institutions, and social impact investors on the fund.
“VOANS recognizes that the time is now to use housing as a platform for better health outcomes, particularly in underserved communities,” says Sharon Wilson Geno, executive vice president and chief operating officer. “We work in partnerships with managed-care organizations, local community organizations, public housing agencies, and financial institutions committed to justice and equity to implement these programs. Given our deep expertise in both affordable housing and health care programs, there are few national developers better positioned than VOANS to deliver with excellence comprehensive, innovative approaches to resident health.”
