Foundation for the Carolinas Receives $13 Million for Housing

Foundation for the Carolinas Receives $13 Million for Housing

The Foundation for the Carolinas has announced gifts and commitments totaling $13 million from Atrium Health, Fifth Third Bank, and David and Scott Brooks to expand affordable housing in North Carolina's Mecklenburg County.

The gifts include $10 million from Atrium Health and $3 million from Fifth Third Bank in support of the Charlotte Housing Opportunity Investment Fund, a campaign to match a $50 million bond referendum approved by voters to meet the demand for affordable housing in Charlotte, which faces a shortage of affordable housing of more than thirty thousand units. An additional $7 million from Fifth Third Bank will be dedicated to planned investments and loan initiatives to increase affordable housing accessibility in the city. In addition, a donation of three acres of privately owned land from David and Scott Brooks, owners of Brooks Sandwich House, will be used to create up to twenty-four town homes in partnership with Habitat For Humanity. With the gifts, the campaign has raised $44 million of its $50 million goal.

"Growing evidence continues to indicate that a person's zip code is as important as their genetic code, and Atrium Health is finding new and innovative ways to keep communities healthy outside the walls of its hospitals," said Atrium Health president and CEO Eugene A. Woods. "Recent studies indicate up to 30 percent of Charlotte households are cost-burdened, and this $10 million commitment will help ensure families, including those of existing Atrium Health employees, will have access to affordable housing and coordinated health services, fresh foods, and transportation."