The new affordable duplex
WAMS is proud to announce that we have completed our commitment to participate in a UMass Memorial Health Care Anchor Mission project.
UMMHC has committed 1% of its investment portfolio to investing in community projects that address the social determinants of health. The investment is done through loans at very low interest to get community projects in areas such as housing, small business, and mental healthcare access started. Impressed with this commitment, the Board of Directors of WAMS voted to collaborate with UMMHC to do the same. Executive Director Karen Ludington joined the Medical Center's Anchor Mission Committee and spent months looking for a project that was the right size for the WAMS allocation of $50,000 to make an impact. The perfect project, one in line with the longterm WAMS interest in affordable housing, came before the Committee, and WAMS entered into a loan agreement with Worcester Common Ground to help build a duplex home, two units of housing in Worcester that will be sold at below market rates. Our investment made a difference, and the home is really coming along well. When the two units are sold, WAMS will be paid back and will be able to invest in another Anchor Mission project. We are happy to join this mission-driven work.