The Robert Wood Johnson Foundation and NCB Capital Impact are providing a $10 million low-interest credit facility to finance the building of Green House homes, a community-based care that offers a high-quality alternative to traditional institutional skilled nursing facilities.
The Green House model is designed to provide residents nursing support and clinical care without it becoming the focus of their daily lives.
“By altering the facility size, interior design, staffing patterns and methods of delivering skilled services to residents, the Green House model provides residents greater health and lifestyle benefits compared to residents of traditional nursing facilities,” said the company.
It’s the first investment from the Foundation’s new $100 million commitment to leverage funding from multiple sources to improve health care for all Americans.
“Our goal with this initiative is to go beyond traditional grantmaking, to drive social change, achieve measurable impact and collaborate with partners who can help us achieve our mission,” said Risa Lavizzo-Mourey, M.D., M.B.A., president and CEO of the Robert Wood Johnson Foundation. “This commitment allows us to better leverage our funding and spread innovative models, like the Green House Project.”
Since 2002, the Foundation has awarded $12 million to test and evaluate the Green House model.
“This $10 million investment from the Robert Wood Johnson Foundation clearly demonstrates that the Foundation is committed to providing the leadership to replicate the Green House model and increase access for low-income elders,” said Terry Simonette, president and CEO of NCB Capital Impact. “It also highlights the Foundation’s confidence in the Green House model as an economic enterprise that can provide important services while also generating sufficient cash flow to repay investments.”
Written by John Yedinak