Stewards of Affordable Housing for the Future (SAHF) and Housing Partnership Network (HPN) announced a joint effort to bolster housing stability in response to the COVID-19 pandemic on Thursday, funded with a $3 million grant from JPMorgan Chase that will benefit 19 affordable housing nonprofits. The collaboration will focus its efforts on 7,500 households in seven states: California, Illinois, Maryland, Minnesota, Ohio, Texas, and Virginia, as well as Washington, D.C. The investment will go towards maintaining renter housing stability and supportive services for households experiencing economic hardship due to the pandemic.
“The COVID-19 pandemic has disproportionately impacted people of color and people of limited economic means, including those living in affordable rental homes,” said SAHF CEO Andrea Ponsor. “The resident services systems that nonprofit affordable housing providers have in place have been invaluable and the support of JPMorgan Chase to expand these services has helped connect thousands of people to resources they need to remain in their homes.”
SAHF and HPN will also collaborate to develop general housing stability strategies that will be useful during future periods of economic distress. “Deep and sustained peer-to-peer learning has proven essential to our members’ ability to manage through major disruptions — such as the 2008 financial crisis, Hurricane Katrina, and now COVID-19 — learn from each other and quickly replicate best practices around emerging needs,” said Kim Dempsey, HPN’s executive vice president for capital markets. SAHF, HPN and JP Morgan Chase are all active members of NHC.