Catholic Health Partners completes transfer of affordable homes to Mercy Housing, Inc.

Catholic Health Partners (CHP) and Mercy Housing Inc. (MHI) announced the consolidation of 616 CHP affordable homes into Mercy Housing Southeast’s property portfolio.  The transaction was completed on December 31, 2011, and will not affect existing families residing in these homes or employees serving these residents.

The agreement allows MHI to continue to manage the properties as well as provide supportive resident services in communities in Tennessee, Kentucky and Ohio.  The communities were established between 1983 and 2004 as part of HUD’s Section 202 program, which was created to provide housing with supportive services to very low-income people, age 62 and older. In addition, the program subsidizes rents for senior citizens so they can limit their housing costs to only 30 percent of their total incomes.

“Mercy Housing is a national leader in affordable housing and has proven its core competencies in this area for more than 25 years,” noted Michael D. Connelly, President & CEO, CHP. “We are pleased to transfer sponsorship to an organization with its breadth of experience, resources, expertise and devotion to mission in providing safe, affordable housing. CHP’s core competencies are acute and long term care. While our work in affordable housing has supported our mission by improving the health of the communities we serve, MHI has more expertise and experience in affordable housing. CHP is proud of our service to affordable housing residents and employees and we believe this transition to Mercy Housing is a natural progression that will continue to benefit everyone involved.”

“We are proud to partner with CHP on the transfer of these properties to MHI and will continue to ensure residents have access to the same services and programs that CHP offered,” said Mercy Housing Southeast President Charice Heywood. “As people live longer and increasingly have the ability to live independently, it is crucial to ensure they have a community to call home.”

The 15 properties are located in Knoxville, TN; Paducah and Louisville, KY; and Cincinnati, Dayton, Tiffin, Rossford and Oregon, OH. The facilities are: Dublin Manor, McAuley Manor, Mercy Manor (Paducah); St. Mary’s Riverview I and II, St. Mary’s Villa (Knoxville); Sacred Heart Village I, II and III (Louisville); St. Theresa Village (Cincinnati); Siena Springs I and II (Dayton); Charles Meadows (Tiffin); Charles Crest I (Rossford); Charles Crest II (Oregon). The transfer of ownership of these properties will enable Mercy Housing to continue its commitment to narrow the gap between the need for affordable housing and the supply of affordable homes.   

 

About Mercy Housing

Mercy Housing, a national not-for-profit affordable housing organization headquartered in Denver, has a presence in 43 states, serves more than 137,000 people on any given day and has participated in the development, financing or operation of more than 40,000 homes. Mercy Housing serves families, seniors and people with special needs (formerly homeless, people with HIV/AIDS and the developmentally disabled). For more information about Mercy Housing, please visit www.mercyhousing.org.

 

About Catholic Health Partners

CHP is the largest health system in Ohio and one of the largest nonprofit health systems in the US. CHP is one of the top health systems in the nation for quality and efficiency as rated by Thomson Reuters. CHP consists of seven regional health systems that provide a wide range of healthcare services. All of its regional health systems include acute care hospitals, and many of them also include long-term care residences, housing sites for the elderly, home health agencies, hospice programs, outreach services and wellness centers. With $5.1 billion in assets, CHP employs more than 34,000 associates in more than 100 organizations, including 24 hospitals which serve the health needs of people in Ohio and Kentucky. True to its mission, in 2010 CHP provided more than $365 million, or 8.5 percent of total expenses, in targeted community benefit.  For more information about CHP, please visit www.health-partners.org.

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