NCB Capital Impact Receives $1 million Program-Related Investment from AARP Foundation Funds to be used to expand access to Green House® homes for low-income seniors
WASHINGTON, June 4, 2013 /PRNewswire-USNewswire/ -- NCB Capital Impact announced that it has received a $1 million program-related investment from AARP Foundation to finance the building of new Green House® homes.
A Green House® home is an independent, self-contained, long-term care facility created from the ground up to foster the same feeling and experience one gets from living in a traditional home. Green House® homes, which are designed for 10-12 residents, offer the comfort of private rooms and bathrooms, as well as a family-like atmosphere of open common spaces, where residents share meals at a common table. Residents of Green House® homes report higher satisfaction levels, less physical decline, and less depression compared to traditional nursing facilities.
"When it becomes impossible for people to live in their own homes, they want to get the care they need in an environment that feels like a real home," said Terry Simonette, President and CEO of NCB Capital Impact. "This investment from AARP Foundation will provide this opportunity to those most in need by making new Green House homes more affordable for low-income elders."
THE GREEN HOUSE® Project is a program of NCB Capital Impact and has received funding from The Robert Wood Johnson Foundation. To date there are 144 Green House® homes operating on 34 campuses in 23 states.
About NCB Capital Impact: NCB Capital Impact helps people and communities reach their highest potential at every stage of life. As a Congressionally chartered, District of Columbia, non-profit community development finance institution, Capital Impact provides financial services and technical assistance to help make high-quality health care, healthy foods, housing, and education more accessible and attainable, and eldercare more dignified and respectful. Capital Impact has used its depth of experience, cooperative approach, and diverse network of alliances to generate over $1.825 billion in critical investments that create a high quality of life for low income people and communities. www.ncbcapitalimpact.org
About AARP Foundation: AARP Foundation is working to win back opportunity for struggling Americans 50+ by being a force for change on the most serious issues they face today: housing, hunger, income and isolation. By coordinating responses to these issues on all four fronts at once, and supporting them with vigorous legal advocacy, the Foundation serves the unique needs of those 50+ while working with local organizations nationwide to reach more people, strengthen communities, work more efficiently and make resources go further. AARP Foundation is AARP's affiliated charity. Learn more at www.aarpfoundation.org.
SOURCE NCB Capital Impact