Kaiser Permanente to spend $5.2 million on affordable housing in Oakland

OAKLAND – Kaiser Permanente announced Tuesday it will spend $5.2 million to purchase a 41-unit apartment building in East Oakland, the health care giant’s first step in its aggressive effort to shelter the homeless and improve health care for the poor.

The Oakland-based company also revealed plans to partner with the city and community aid groups to identify, house and provide services for 500 vulnerable homeless people over the age of 50.

“Kaiser Permanente believes that in the 21st century there are certain things we should resolve and certain principles we should stand for,” company CEO Bernard Tyson said Tuesday. Homeless residents living on the streets, he said, “is unacceptable.”

The health care company kicked off a $200 million, multi-year effort to tackle homelessness in May. It views the investment in housing as a vital component to improving the health of the Bay Area’s most vulnerable.