Expanding opportunities in America’s cities

Great Lakes Capital Fund

Lansing, Mich.
$1.5 million loan guarantee

Awarded

Committed:
2014

The commitment is one of three that support the Strong Families Fund, a joint effort by Kresge and the Robert Wood Johnson Foundation to finance social-service coordination in affordable family housing. The fund is a 10-year pilot intended to show how capital can be used to pay for services that contribute to housing stability and family well-being, and how a pay-for-performance model can fund supportive housing that measurably improves outcomes and generate savings for the public sector. If successful, the fund could provide a model for housing-finance agencies to fund service-enriched housing as a future policy change. The Kresge investments are complemented by a $1.25 million Human Services Program grant to the New York-based Corporation for Supportive Housing, which will administer the fund.