What led to the creation of HNEF? Why is HNEF needed and how does it work? What outcomes does HNEF seek to achieve and how are impacts measured? These are among the questions answered by Maggie Super Church and Kathy McGilvray in their interesting and authoritative article, published in the most recent issue of the American Bar Association’s Journal of Affordable Housing.
Image by ICON Architecture
A Grand Opening ceremony was held last month to celebrate completion of Landing 53, a new transit-oriented real estate development (TOD) in Braintree. The project, for which HNEF I invested $5 million, is the second of the equity fund’s projects to be completed.
HNEF officials joined the developer Joshua Katzen and the development team, Braintree Mayor Joseph Sullivan, other public officials and area residents to view the project, reflect on its importance for Braintree’s ongoing revitalization, and to cut the symbolic ribbon.
At the ceremony, MHIC President Joe Flatley said, “This area used to be a thriving industrial and commercial district. Now it’s once again becoming a vibrant community. Landing 53 will help boost Braintree’s economy and ignite the transformation under way.”
Landing 53 is directly across from the MBTA’s Weymouth Landing-East Braintree commuter rail station, built on land formerly occupied by semi-vacant buildings. It has 172 moderately-priced rental apartments and ground floor commercial/retail space.
The 2-acre site on which Landing 53 was built was considered ideally suited for redevelopment because of its proximity to public transit, strong public support, and other revitalization efforts under way. When considering the project as a potential investment, HNEF focused on its potential for transformative impacts and concluded that the project could contribute significantly to the health of the neighborhood and the people who live there.
It took three years for the development team to get the Landing 53 plan in place, and it was a major priority for the town, which spent $2 million in state funds and some town money to improve the area with underground utility lines and improved street lighting, sidewalks and crosswalks. HNEF’s investment in 2016 provided the crucial equity gap financing that enabled the project to move forward.
CLF President Bradley Campbell said, "CLF is proud to be a founding partner, along with MHIC, of HNEF I. This transit-oriented development is the type of solution our region needs to address the serious and growing problems of climate change and public health.”
Now completed, the attractive building includes a health club, lounge, leasing office, common interior space, an elevated patio and indoor storage for bicycles, kayaks and canoes and other amenities to enhance the environment and encourage outdoor activity. For example, the developer connected pedestrian pathways around the property to a network of paths of the Monatiquot River and canoe launches, encouraging people to exercise and enjoy nature. On the ground floor, the building will contain 3-4 stores occupying a total of 12,000 square feet.
Banker & Tradesman, Boston’s financial services and real estate weekly, featured HNEF and its progress to date in this week's issue. HNEF’s Maggie Super Church and Kathy McGilvray are interviewed by reporter Stave Adams.
Holmes Beverly, a transit-oriented development for which HNEF provided a $4.9 million investment, is nearly complete. The new building, which is immediately next to the Beverly Depot commuter rail station – a big plus for residents – features 67 mixed-income rental apartments and about 4,500 square feet of ground floor commercial/retail space, plus a number of amenities that will promote healthy living. Holmes Beverly was designed to help create a stronger and more vibrant downtown Beverly. It will significantly advance the city’s and Beverly Main Streets’ vision for downtown revitalization and contribute to a healthy and thriving neighborhood. See what the Salem News had to say about this transformative project.
Find an answer to that question in a policy brief entitled "Housing And Health: An Overview Of The Literature” published on June 7th in Health Affairs, the leading journal of health policy thought and research.
Written by Lauren Taylor, this interesting brief outlines and evaluates available literature and research including examples of observational and interventional studies dealing with the impact of housing on health. The author reviews literature supporting housing’s impact on health through four pathways: housing stability, quality and safety, affordability, and neighborhood.
In her section on Policy Implications, Ms. Taylor writes about the role that private businesses, lenders, and investors can play. Banks, CDFIs and other commercial entities, she says, “should consider themselves potential anchors for community revitalization (or market opening) projects,” and cites the work of HNEF and Build Healthy Places Network as “especially instructive.”
The research and literature reviewed in this brief is informative and critically important for all who are concerned with making more equitable opportunities for affordable, safe, quality, and stable housing in healthy neighborhoods.
Concerned about the social determinants of health and of housing in particular, Boston Medical Center (BMC) – an HNEF I investor – recently announced its $6.5 million investment to support a range of local housing initiatives, including funding for HNEF to study the hospital’s community investments.
Announcing the new initiative, BMC’s President and CEO Kate Walsh said, “Too often, we prescribe medicine to a family, when what they need just as much for long-term health is a prescription for stable housing. This investment remedies that and saves cost to the health care system in the process.”
The Conservation Law Foundation (CLF) has announced a $4.3 million grant from the Robert Wood Johnson (RWJF) to continue its pioneering work to help create healthier neighborhoods in Massachusetts. The grant will support CLF’s ongoing research into the root causes of health disparities in low-income communities, the impact of development on those communities, and efforts to improve health outcomes through targeted investments.
On Monday, December 4th, that question was explored, and HNEF was featured on Marketplace, a business news program broadcast by National Public Radio. Senior reporter Dan Gorenstein came to Boston and Chelsea to look at one community where HNEF has invested. He spoke with the people behind HNEF and with those who are experiencing Chelsea’s renaissance.
Listen to the story: Investors make a bet to lift Boston-area neighborhood out of poverty
Kathy McGilvray, MHIC Director of Investment, and Sarah Barnat, President of Barnat Development, joined other experts on a panel at the National Housing and Rehabilitation Association’s annual Fall Forum on November 7th. Kathy and Sarah gave an overview of HNEF and a recent HNEF investment – the Holmes at Beverly – a new mixed-use, mixed-income being built next to the Beverly Depot commuter rail station. Their panel was entitled, “Unique Financial Resources Improve Bottom Line and Enhance Tenant of Life.”
The Greenbuild International Conference and Expo, which bills itself as the world’s largest green building conference – came to Boston on November 8-10. The conference is run by the U.S. Green Building Council, the organization that developed the LEED rating system. CLF research director Vedette Gavin and CLF senior advisor Maggie Super Church participated on panels that discussed “Driving Equity” and “Value Creation Through Health Promotion.” Former President Bill Clinton gave a keynote address.
How can hospitals support both margin and mission through investments in the social determinants of health, such as safe and affordable housing, healthy food, and stable employment? In their article for the Grantmakers in Health August newsletter (“Margin and Mission-Related Investing: How Hospitals Can Help Build Healthy Communities”), Dr. Megan Sandel and Maggie Super Church discuss these questions and argue that hospitals and health care systems can help build healthy communities through more targeted use of their investment capital.
On Wednesday, August 2, the developers of Bartlett Station held a groundbreaking ceremony to celebrate new economic opportunity generated by this transformative project. Two buildings are currently under construction – one, which contains the 28 rental apartments (of a total of 60) and retail space supported by HNEF’s investment of $2.9 million, and another that will provide market and affordable homes to new homeowners. The ground floor retail space will be occupied by a grocery store tenant, providing access to fresh and healthy foods for area residents.
Bartlett Station is notable for: its scope, the number of jobs being created, the percentage of contracting jobs going to minority business enterprises, the number of jobs filled by workers of color, women, and Boston residents, and for the transformative impact this project will have in one of Boston’s most important neighborhoods.
TOD Development will bring 67 units of new housing to formerly vacant downtown parcel
On Wednesday, June 14, Governor Charlie Baker joined state housing and transit officials, local municipal officials and private sector development partners to break ground on 67 mixed-income, transit-oriented rental housing units adjacent to the Beverly Depot Commuter rail station.
110-114 Rantoul St., as the project is presnetly called, also will include ground floor retail/commercial space. It is being built on a formerly vacant site at 112 Rantoul Street and is being developed by Barnat Development.
The development will create 16 workforce housing units affordable to middle-income households, representing the first major shovel-ready redevelopment property under the Baker-Polito Administration’s “Open for Business” Real Estate Asset Leveraging (REAL) Strategy and an investment of MassHousing’s $100 million Workforce Housing Initiative.
HNEF is also supporting the project with a $4.9 million investment. In addition to MassHousing and HNEF funds, Beverly Barnat is being financed by Boston Private and the Federal Home Loan Bank of Boston.
The Federal Reserve Bank of San Francisco and the Nonprofit Finance Fund have just launched their new book, “What Matters: Investing in Results to Build Strong, Vibrant Communities.” With a foreword by former Massachusetts governor Deval Patrick, this pathbreaking book is a compilation of essays that explores what it takes to reorient social programs and funding to achieve desired outcomes. The traditional focus for funding has been on activities and outputs, but, the authors argue, this model no longer works. Measuring and accounting for the benefits of investment will yield far better results in building healthy communities and satisfying investors and other stakeholders. Achieving this shift in focus is not easy and requires collaboration among the social, business and public sectors. But that shift clearly is gaining momentum across sectors and across the country.
Maggie Super Church, CLF Ventures, has a chapter in this book: Investing in Health From the Ground Up – Building a Market for Healthy Neighborhoods, in which she states that, “In this growing and dynamic market, there is clearly enormous opportunity to drive investment toward interventions that improve population health.” She poses the question: “why it is so difficult to finance the development of healthy communities when the benefits to people, communities, and the economy are so profound?" Read her chapter and find out why.
Bridging Health & Community has just published its new report, Fostering Agency to Improve Health, Twelve Principles key to the Future of Health. Written by Pritpal Tamber & Bridget B. Kelly, co-founders of Bridging Health & Community, the report “seeks to change how we define health and how we approach health so that it goes beyond health care and public health to embrace fostering community agency.” The authors advocate for a broader definition of health to mean more than just ‘the absence of disease.’
According to the authors, their “mission is to describe the field of practice that bridges how health systems and communities can approach ‘health.’” They define the field through a set of twelve principles.
Included in the report is an abstract of Maggie Super Church’s presentation, “Trying to find community-centric business models,” about HNEF and its progress and challenges at the July 16 2016 meeting of the Creating Health Collaborative.
Ashmont, the neighborhood where HNEF's Treadmark project is being built, was featured as part of Chronicle's "Happening Hoods," series. See the clip and hear about how Treadmark fits into this neighborhood undergoing transformation.
Landing 53, a mixed-use TOD project in Braintree that HNEF is helping to finance and that will ignite transformation of the community was featured in the New England Real Estate Journal as “Project of the Month.”
That was the title of last week’s conference, convened by the Robert Wood Johnson Foundation in collaboration with AcademyHealth, which brought together a broad range of experts to explore what it takes to create a Culture of Health. Held in Louisville, Kentucky, panelists and participants discussed the role that race, the environment, public policy, the health care establishment, and others play in creating health equity. Topics included the importance of cross-sector collaboration and partnerships, innovative research and new approaches, and what will it take to advance social cohesion and grow opportunity to achieve health equity in the current sociopolitical environment. Maggie Super Church was there, representing HNEF and CLF Ventures.
Take a look Louisville’s Culture of Health Prize Story
Want to know more about what Culture of Health means, why it matters, and what it will take to get there? Click here
On December 7th, CLF Director of Research Vedette Gavin attended a meeting in Dallas, sponsored by the Robert Wood Johnson Foundation and the Urban Institute, convened to formally introduce data from the 500 Cities Project and explore how communities might use it to create a culture of health.
The 500 Cities Project is collaboration between the CDC, the Robert Wood Johnson Foundation, and the CDC Foundation. The project marks the first time that health behavior and outcome data has been made publically available at such a local level for communities across the US. It has paramount implications for the power of the Healthy Neighborhoods Research Study. The focus of the study is to understand how investing in new development projects in urban neighborhoods impacts the lives and health of people living less than 1 mile away. And locally it has paramount implications for the power of the Healthy Neighborhoods Research Study.