Model-based image reconstruction can be applied to multiple imaging modalities because of the generalized way in which it casts the imaging task as a nonlinear optimization process. This provides a conceptual foundation for exploiting its common features across different physical approaches to imaging. Multi-modality physical property imaging also provides an opportunity to correlate tissue discriminates that may hold diagnostic value in combination. In this paper, we describe our efforts to apply the model-based image reconstruction framework to breast imaging through electrical impedance and near infrared exams delivered to the same subjects. Initial attempts to correlate these different physical properties yield interesting results.