Catholic Charities have established a 336-bed housing experiment called the Higher Ground which will provide the homeless a permanent housing. It was funded through $12.75 million in bonds from the Minnesota Housing Finance Agency, $2 million from Hennepin County, and major gifts from several foundations, including the Pohlad Family Foundation and the General Mills Foundation.
The first floor is an emergency shelter while the second floor has $8 a night cots for the working poor. On the other hand, the third and fourth floors are "safe havens'' for those who could benefit from more mental and physical health services. The top two floors are basically efficiency apartments for residents who live on their own.
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Established by Big Society Capital and the Northern Rock Foundation, the North East Social Investment Company is soon to be launched for lending by mid-2014.