National CORE, in partnership with Build Healthy Places Network and Nonprofit Finance Fund, is one of nine cohorts to receive a $100,000 investment through JPMorgan Chase’s Partnership for Raising Opportunity in Neighborhoods (PRO Neighborhoods) initiative. The announcement was made on October 21 during a PRO Neighborhoods reception in conjunction with the Opportunity Finance Network Conference held in Washington, DC.
“We selected National CORE for this funding because of their data-driven approach to the work they are doing in San Bernardino, their strong resident engagement and their commitment to build local capacity in order to sustain longevity and drive inclusive growth. It is very impressive,” said Sarah Bowles, Regional Vice President for Corporate Responsibility at JPMorgan Chase.
The Chase PRO Neighborhood investment will encourage Community Development Financial Institutions (CDFIs) and health investors to advance comprehensive solutions and spark collaborative problem solving to address persistent community development challenges with a focus on the Waterman/Baseline corridor in the City of San Bernardino. “This effort will address some of the biggest barriers to opportunity, high crime rates, homelessness, and lack of good-paying jobs. Namely through affordable housing, job creation, and economic development,” commented Steve PonTell, CEO/President of National CORE.
“We’re excited to join forces with community development and healthcare organizations to advance equity, reduce poverty, and improve health in the City of San Bernardino,” said Colby Dailey, Managing Director of Build Healthy Places Network.
The collaborative will (1) create a data-driven process for neighborhood stabilization and anticipates neighborhood change and displacement, (2) create a coordinated capital strategy that will leverage existing investment, (3) provide technical assistance to small businesses, local nonprofits and build investment readiness for developers, (4) develop strategies to attract additional investment, especially from the healthcare sector, and (5) continue to develop an inclusive community stakeholder process.
“National CORE’s commitment to the City of San Bernardino goes beyond the redevelopment of the Greater Arrowhead Grove Neighborhood. They are working alongside other community partners to increase investment in housing, health and safety, and job creation,” said Mayor John Valdivia.
The investment will allow National CORE to leverage other funding sources to strengthen the existing Waterman/Baseline Specific Plan and leverage other collective impact efforts to advance equity, reduce poverty and improve health in the City of San Bernardino. One such effort is the Center of Community Investment at the Lincoln Institute of Land Policy’s Accelerating Investments for Healthy Communities (AIHC) initiative, which is focused on increasing investments in affordable housing. National CORE, in partnership with the City of San Bernardino and Dignity Health, is participating AIHC to accelerate health system investment in San Bernardino communities.
Earlier this year, Dignity Health aligned with Catholic Health Initiative to form CommonSpirit Health, a new health system that strives to build healthier communities, advocate for the vulnerable , and innovate how and where care can happen. “We see this partnership with National CORE as a great opportunity to continue CommonSpirit Health’s vision to improve the health of all communities we serve, especially individuals and families with the greatest need,” said Pablo Bravo, Vice President, Community Health of CommonSpirit Health.
Chase’s PRO Neighborhood Initiative was created to support community leaders with the tools needed to transform underserved neighborhoods into neighborhoods of opportunity – where diverse individuals and families at all income levels can thrive.
About National CORE
National CORE based in Rancho Cucamonga, Calif., is one of the nation’s largest nonprofit developers of affordable housing. National CORE manages nearly 9,000 affordable, senior and market-rate units in California, Texas, and Florida. National CORE’s strength is in its ability to offer partners an array of in-house capabilities that navigates the complexities of planning, developing, building, managing and providing supportive services. For more information on National CORE, please visit www.nationalcore.org.
About Nonprofit Finance Fund
Nonprofit Finance Fund® (NFF®) works toward a more equitable, responsive, and valued social sector. We provide financing and consulting to help nonprofits and their funders better connect money to mission results. We are a community development financial institution (CDFI) applying 40 years of experience to today’s toughest social challenges, and we share what we learn to speed progress. NFF manages over $352 million. Since 1980, we have provided almost $890 million in financing and access to additional capital in support of over $2.8 billion in projects for thousands of organizations nationwide. https://nff.org/
About Build Healthy Places Network
Build Healthy Places Network is the national center at the intersection of community development and healthcare with a mission to shift the way organizations work across the health, community development, and finance sectors to collectively advance equity, reduce poverty, and improve health in neighborhoods across the United States. The Network does this by connecting leaders, building knowledge, and providing direct training and support. The Network is based in San Francisco and a program of the Public Health Institute. https://www.buildhealthyplaces.org/