Affordable Housing in the State of New York

Street of NYC

Photo by Jon Flobrant on Unsplash

SP Investment Fund invests in affordable housing apartment communities all over the United States, including communities in the State of New York. Recently, SP Investment Fund performed extensive renovations of two affordable housing communities in New York that serve seniors and disabled persons. 

According to data from the Center on Budget and Policy Priorities, 40 percent of people with low incomes in the state of New York spend more than 50 percent of their income on rent. However, some of those people get relief from federal rent subsidies that allow them to afford decent housing. 

Today, more than 1.2 million people in over 580,000 residences in New York State receive federal housing aid. Of that 1.2 million, more than 20 percent are elderly, nearly 25 percent have a disability, and nearly 55 percent live with children. 

In 2018, the federal government allocated more than $6 billion for New York rental support programs. These programs help prevent hundreds of thousands of vulnerable people from becoming homeless in a state where rents have been steadily climbing.

Pharmacogenomics and the Promise of Individualized Medicine

Based in Los Angeles, California, SP Investment Fund has a long history of making investments in social positive companies that create or operate affordable housing. In 2014, SP Investment Fund began investing in emerging health sciences and biotechnology companies with products that would greatly benefit society. One of the companies it has invested in is Coral Genomics, a company that uses genomic data from patients to improve drug development and response. 

Coral Genomics uses genetic data to determine the likelihood of a patient’s cells to respond to a drug. The firm conducts experiments to measure variability across different patients, finds ways to reduce that variability, and finally recommends appropriate treatment strategies. 

For decades, genetic variations have been known to cause differences in drug responses among human populations. Pharmacogenomics emerged as a field dedicated to researching this phenomenon. Initially, the field focused on identifying genetic variants within genes that metabolized drugs. The field has since grown to include regulatory mutations and the roles of mRNA, microRNAs, and other downstream events influenced by genetic variations. 

The ultimate goal of pharmacogenomics is to pinpoint genetic variants affecting therapy responses and to use this information to develop personalized pharmacological treatments that maximize therapeutic benefits while minimizing side effects. This is the guiding mission of Coral Genomics. Such personalized medicines will lead to increased drug efficiencies and reduced morbidities and mortalities.