In Seattle, Bank of America Merrill Lynch is providing more than $7.8 million in loans and $9.6 million in tax credit equity through Enterprise Community Investment for Delridge Supportive Housing, which will have 66 furnished apartments for formerly homeless individuals and families. The Downtown Emergency Service Center (DESC) employs a Housing First program based on the premise that people are more likely to be successful in treatment when they have a stable home. The new four-story building also will offer residents 24-hour staffing and on-site case management provided by DESC.“Supportive housing is humane, cost-effective and a top priority in the Seattle area. This new development in the Delridge neighborhood will help those living with serious mental illnesses, chemical dependencies and long-term homelessness,” said Bill Hobson, executive director of DESC. “By eliminating the chaos of living on the streets, this project will improve the quality of life for its residents and reduce their use of expensive emergency response services, benefiting the broader community.”
Bank Of America Merrill Lynch Provided More Than $2.6 Billion In Community Development Lending And Investing In 2012
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