You are here

Home » Housing Partnership Network

Housing Partnership Network

Submitted by rahul on 05/06/2009
Region: 
Local
Image: 
Innovation Blurb: 
Stabilizing property insurance costs for nonprofit affordable housing providers
Web Site Link: 
http://www.housingpartnership.net

The Housing Partnership, an award-winning peer-to-peer network of the nation's top performing nonprofit development organizations, is stabilizing the skyrocketing cost of property insurance for nonprofit affordable housing providers. By pooling risk, capital and negotiating a custom program with national insurance carriers, the Housing Partnership is able to offer competitive insurance rates through an alternative of non-private sector financial collaboration.

Having over 19 regional nonprofits own the insurance entity provides financial security and has enabled over 37,000 homes to attain property and liability coverage. This spread of coverage has saved over $1 million annually in premiums, which is directly reinvested into affordable housing and resident services. 

Their Description: 

Our members develop, manage and finance affordable homes that revitalize communities and provide economic opportunities for lower-income and working families. Entrepreneurial, innovative, and grounded in local markets, we forge partnerships with the private and public sectors to achieve large scale impact.

Through the Network, members share knowledge and innovation, collaborate on business development, and advocate for policy changes to increase their performance and sustainability. Our cooperative social enterprises enable nonprofits to pool their resources to access the capital markets on terms that reflect their scale and superior performance.

The Networks' family of affiliated companies provide predevelopment and acquisition loans, permanent mortgage financing, venture capital, and insurance that help our members produce and sustain more affordable homes.

Contact: 

Housing Partnership Network
160 State St, 5th floor
Boston 02109
617-720-1999
www.housingpartnership.net

Image Permission: 
0
Hub Categories: 
Housing