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Mayor Walsh and MassMutual announce $1 million gift to support the Boston’s Way Home Fund

May 2, 2019

SPRINGFIELD, Mass. & BOSTON--(BUSINESS WIRE)--May 2, 2019--Mayor Martin J. Walsh today joined representatives from Massachusetts Mutual Life Insurance Company (MassMutual) in announcing the company is providing $1 million of support to the Boston’s Way Home Fund to further the city’s efforts in ending chronic homelessness in the City of Boston. Since the Mayor first announced the fund, more than $6.2 million has been raised to date, including the $1 million announced today.

The gift from MassMutual was announced at the annual Home Remedy breakfast for Pine Street Inn, a partner of the Boston’s Way Home Fund. First announced by Mayor Walsh in January 2018, Boston’s Way Home Fund has a set goal of raising $10 million over four years, with funds being used to create 200 new units of supportive, sustainable, long-term housing for chronically homeless men and women.

“I thank MassMutual for their generous contribution and for helping Boston get even closer towards our goal of ending chronic homelessness in our city,” said Mayor Walsh. “We are committed to making sure that every person in our City has a place to call their home and build a better life, and the Boston’s Way Home Fund is helping do just that.”

“We applaud the efforts of Mayor Walsh, the City, Pine Street Inn and all of the Boston’s Way Home Fund partners in driving forward efforts to provide housing for every homeless individual in Boston,” said Roger Crandall, MassMutual’s Chairman, President and CEO. “At MassMutual, we are committed to supporting those who share our vision for a better future and we are honored to contribute to realizing the Mayor’s goal of ending homelessness in Boston.”

“Pine Street Inn is extremely grateful to MassMutual for their generous support of the Boston’s Way Home Fund, and we appreciate their leadership,” said Lyndia Downie, President and Executive Director, Pine Street Inn. “This gift will make a significant difference in our ability to create additional housing for those moving out of homelessness, helping to provide a safe, stable environment for men and women to begin rebuilding their lives.”

Creating new permanent supportive housing, such as the affordable housing complex Pine Street Inn plans to build in Jamaica Plain, is an important component of Boston’s Way Home. Permanent supportive housing combines subsidized rental housing with individualized support services so that people receive the assistance they need to stay housed. The housing is designed to build independent living skills and connect people with services such as community-based medical and mental health care, job training and employment services.

Pine Street Inn, which partners with homeless individuals to help them move from the streets and shelters to permanent homes, operates more than 850 units of permanent and supportive housing around Boston and Brookline, Mass. The new complex in Jamaica Plain, funded by Boston’s Way Home, will help Pine Street Inn meet the growing need for safe, secure and affordable long-term housing solutions.

In his January 2016 State of the City address, Mayor Walsh announced Boston had ended chronic veteran homelessness; to date, nearly 915 homeless veterans have been housed. In 2016, the City scaled up its efforts to end chronic homelessness; since January of 2016, 721 chronically homeless individuals have been housed, representing more than 4,000 years of homelessness ended.

Since its implementation, Boston’s Way Home has resulted in a complete redesign of the way Boston offers services to homeless individuals. Rather than counting on shelter as the solution to the issue, Boston has moved toward a housing-first model, where an individual’s entrance into the shelter system is also their entrance on a path toward permanent, stable housing.

The $10 million raised from the fund is expected to leverage a significant public and private investment. MassMutual joins leading businesses throughout the city in contributing to funding the Boston’s Way Home Fund. For more information about the Boston’s Way Home Fund, click here.

Last year, MassMutual announced a multi-year plan to reinvest in its home state of Massachusetts, including an increased presence in both Springfield, the company’s headquarters since its founding in 1851, and Boston. This summer, the company will break ground on its new building on Boston’s Fan Pier. As MassMutual expands its operations in Boston, the company is committed to strengthening its community involvement through business, civic, cultural and corporate responsibility initiatives.

About MassMutual
MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. MassMutual offers a wide range of financial products and services, including life insurance, disability income insurance, long term care insurance, annuities, retirement plans and other employee benefits. For more information, visit www.massmutual.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190502005138/en/

CONTACT: MassMutual:

Laura Crisco

(413) 744-2370, (413)887-1519 (m)

lcrisco@massmutual.com

Office of Mayor Martin J. Walsh:

Samantha Ormsby

(617) 635-4461, (617) 388-2544 (m)

samantha.ormsby@boston.gov

KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS

INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE INSURANCE OTHER PROFESSIONAL SERVICES

SOURCE: Massachusetts Mutual Life Insurance Company

Copyright Business Wire 2019.

PUB: 05/02/2019 09:00 AM/DISC: 05/02/2019 09:01 AM

http://www.businesswire.com/news/home/20190502005138/en