Intermountain Announces NewWest Community Capital as an Impact Investment Partner to Help Fund Social Determinants Initiatives

Finance


Salt Lake City – Intermountain Health and NewWest Community Capital have partnered on affordable housing and community development in the Intermountain region. The partnership will provide capital to projects that specifically target social determinants of health in underserved communities to achieve health equity.

NewWest Community Capital is a nonprofit community development financial institution headquartered in Boise, Idaho, serving eight states in the Intermountain West. The Company’s core loan products are real estate loans to support affordable housing projects and other community facilities, all aimed at supporting low- and middle-income families.

“NewWest offers a full range of community development loans for both affordable housing and community facilities,” said Nicholas Fritz, director of Intermountain Impact Investing. “Intermountain and NewWest are aligned with our purpose of addressing the social determinants of health across the region. We are partners.”

Loans are useful at each stage of a project, including pre-development, acquisition, construction, and permanent financing. Partners include health and welfare organizations, homeless services, medical institutions, charter schools, early childhood education institutions, fresh food suppliers and affordable housing developers.

Housing insecurity is one of the social determinants of health. Negative non-medical factors can have serious consequences for families and communities. Other factors include transportation problems, lack of adequate food, and interpersonal violence.

“Studies show that where you live, your zip code, affects life expectancy. We all need to do more to reverse this trend,” said Intermountain’s said Mikel Moore, senior vice president and chief community health officer.

“Partnering with great organizations like NewWest makes this possible for our families, communities and countries,” Moore said.

Through its ecosystem of borrowers, investors, partners and donors, NewWest has provided financing and created more than 4,500 high-quality, affordable homes throughout the Intermountain West. The investment from Intermountain Health will help expand NewWest’s capacity to serve more communities as it continues its efforts to increase housing options for its residents.

“NewWest exists to increase access to capital for organizations committed to building a more just and equitable society. As we strive, our mission is more important than ever,” said Dutch Haarsma, president of NewWest Community Capital. “We appreciate his Intermountain Health innovative approach to improving health by investing in resources like NewWest.”

Learn more about Intermountain’s commitment to investing in community health and impact here.

Learn more about NewWest Community Capital here.

About Intermountain Health
Headquartered in Utah, it has offices in seven states and operations throughout the western United States. Intermountain Health has 33 hospitals, 385 clinics, a health group with approximately 3,900 employed physicians and advanced care providers, a health planning division called SelectHealth with more than 1 million members, and other health services. It is a non-profit system. Helping people live the healthiest lives possible, Intermountain is committed to improving the health of its communities, using science-based best practices to consistently deliver high-quality results at a sustainable cost. is widely recognized as a leader in transforming healthcare by providing

About New West

Founded in 2000, NewWest Community Capital helps fund economic development and affordable housing initiatives in the western United States. The organization funds a wide range of community development projects essential to help poverty-affected areas. These projects include funding affordable housing, medical facilities, child development centers, non-profit program spaces, and loans used to fund local economic development.



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