Denver Supportive Housing Social Impact Bond Initiative

In 2016, the city of Denver and eight investors—including the Denver Foundation, Living Cities Catalyst Fund, Northern Trust, and Walton Family Foundation—partnered to make an $8.6 million Pay For Success investment to fund a supportive housing program for 250 of the city’s most frequent users of the criminal justice system. The bond initative was executed by the Corporation for Supportive Housing and Enterprise Community Partners.

 

Total investment into the program is expected to be $8.7 million, leveraging $15.2 million in Federal resources, in order to help place Denver’s most vulnerable individuals into permanent, supportive housing with intensive case management services over the course of five years. The repayment to investors will be $9.7 million if a 35% reduction in jail bed days and 83% housing stability goals are achieved. The repayment will be less if these outcomes are not achieved.

 

This report by the Urban Institute evaluates the housing stability outcomes of this public-private partnership and shows positive early results.