ALEMBIC NEWS

H3C Recognized in the New York Times

The New York Times recently published an article highlighting the recent completion of H3C Apartments, which Alembic developed in partnership with Gulf Coast Housing Partnership (GCHP) in the Central City neighborhood of New Orleans. The 192-unit mixed-use development includes 100 affordable apartments for families, 92 for seniors, along with an on-site Federally Qualified Health Center (FQHC) operated by DePaul Community Health Centers, and open space for residents.

The project was made possible by a recent innovation in community development finance, the pairing of healthcare and housing, with health care systems realizing the value in investing in quality homes in the communities that they serve.

“H3C is just one of many examples showing that health care systems are increasingly starting to see benefits in building affordable and safe housing, from the improved health of local communities to how much managed care groups benefit financially from those healthier populations. Those factors and others, including a shortage of housing for their own workers, have pushed health systems to become partners and investors in affordable housing” (Sisson).

Alembic and GCHP had the ribbon-cutting ceremony for H3C in late January, which was well attended by both local and national partners. A resounding theme among speakers was that while these additional 192 units are an important step toward addressing New Orleans’ affordable housing needs, more investments similar to H3C are needed throughout the city in order to reduce the number of households that are rent burdened and facing housing insecurity.