Cornerstone

Cornerstone DC Cornerstone finances supportive housing for people with mental illness in the District of Columbia. Cornerstone finances supportive housing for people with mental illness in the District of Columbia. Cornerstone is a nonprofit housing finance intermediary for supportive housing. We award loans and recoverable grants in exchange for l... ong term commitments to provide housing for people with mental illness. In conjunction with traditional lenders and government sources, Cornerstones capital funds housing purchases and preservation. Cornerstones financing reduces mortgage debt to make units more affordable. Cornerstone can provide short-term loans to bridge other funding sources. Cornerstone is a Community Development Financial Institution (CDFI), certified by the US Department of Treasury. Cornerstone can participate in pre-development funding. Cornerstones focus is supportive housing for special needs populations in DC. Supportive housing is a cost-effective combination of affordable housing and flexible, individualized support services that maximizes peoples ability to live independently. Supportive housing is permanent housing. People have a right to stay in their housing so long as they are responsible tenants. While encouraged, participation in services is voluntary. Each supportive housing program has unique aspects and can vary in philosophy, size, tenant mix and support. Supportive housing results in significant public savings due to reduced needs for emergency crisis care, long-term hospitalization and shelter use, and a decrease in incarcerations. Cornerstone channels public and private funds to create permanent supportive housing for people with mental illlness:Read More