Regions Affordable Housing celebrates the grand opening of innovative approach to affordable senior housing in Jackson, Mississippi.
NORTHAMPTON, MA / ACCESSWIRE / October 8, 2024 / Regions Bank
By Dana Obrist
Safe and affordable housing is imperative, especially in a city where approximately one-quarter of the population lives below the poverty line.
In Jackson, Mississippi, Pearl Street Community Development Corporation (Pearl Street CDC) and Gulf Coast Housing Partnership, Inc. (GCHP) are working together to meet the health, wellness and housing needs of the low-income senior population who may be especially vulnerable.
In 2022 Pearl Street CDC and GCHP began the 21-month historic rehabilitation and complete redevelopment of the former Jackson Southwest Hotel into The Pearl Apartments.
With 76 one- and two-bedroom apartments for income-restricted individuals primarily ages 55 and over, The Pearl is conveniently situated just minutes from Interstate 20, offering easy access to grocery stores, public transportation and modern onsite amenities such as a fitness center and a computer room for residents.
The Pearl is a GCHP Health + Housing Community, which aims to improve residents' overall health through building design and convenient access to healthcare services. Residents of The Pearl have access to an onsite community health center operated by Jackson-Hinds Comprehensive Health Center. They also have free access to a community health worker who can assist with coordinating medical service, provide appointment and medication reminders, and help connect residents to other health and social services.
"GCHP's mission to create affordable housing and stronger communities throughout the Gulf Coast is only possible through our partnerships," said Kathy Laborde, GCHP president and CEO. "We are thankful for Regions Bank's investment in The Pearl, which will have a lasting and positive impact on the residents of Jackson."
The Regions Foundation provided $500,000 for GCHP Health + Housing projects across the Gulf Coast, while Regions Affordable Housing provided syndication and sponsorship services in support of The Pearl Apartments redevelopment project.
"The Pearl addresses multiple challenges at once," said Marta Self, executive director of the Regions Foundation. "GCHP is tackling blight by revitalizing an abandoned building, and creating safe and affordable housing by leveraging public and private funding sources. And the focus on seniors and onsite health services is a great example of how we can foster inclusive and sustainable community prosperity."
"Regions Bank is honored to be part of a project that reaches beyond just brick and mortar to truly invest in the well-being of the seniors within the Pearl community," said Rachel Thomas-Phillips, Regions Affordable Housing relationship manager in Jackson. "The development of this project is a celebration of what can be achieved when financial resources are combined with the deep commitment of a community."
An official ribbon-cutting event was held at The Pearl in August 2024.
"Regions Bank is proud to be part of the reimagining of this highly visible property in Jackson," said John Howie, Regions Jackson Market Executive and Middle Market Banking leader shared during the event.
About Regions Foundation
Regions Foundation supports community investments that positively impact the communities served by Regions Bank. The Foundation engages in a grantmaking program focused on priorities including economic and community development; education and workforce readiness; and financial wellness. The Foundation is a nonprofit 501(c)(3) corporation funded primarily through contributions from Regions Bank.
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SOURCE: Regions Bank
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