At the request of MK Meirav Cohen, Milken Innovation Center Project Director Steve Zecher joined Knesset Hearings on June 20 to discuss innovative finance solutions through cooperative housing for senior citizens and Holocaust Survivors in Israel. Following up upon the Center’s past financial innovations Labs and Fellows’ deployment on models for affordable housing and current initiatives funded by the Ministry of Construction and Housing, the hearings explored how community housing could generate a reduction in housing costs while increasing a sense of belonging and relief from loneliness through shared housing. Cooperatives and co-housing (where private homes are clustered around public space and shared amenities) have long expanded in Scandinavia and other parts of Europe and the U. S. “Changes in Israel’s age structure with the number of residents over the age of 65 doubling by 2040 is a trend demanding housing solutions as soon as possible,” said Cohen.
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