The investments are one of many initiatives
ranging from retail to workforce and philanthropy that exemplify
the company's longstanding commitment to the people
of Hawai'i
WOONSOCKET, R.I., Feb. 21,
2024 /PRNewswire/ -- CVS Health® (NYSE: CVS) today
announced its contribution of nearly $35
million in equity investments towards the creation of two
new affordable housing developments in Hawai'i. Located in
Lahaina, Maui and Kapolei, Oahu, the communities will also offer
residents supportive social and educational programs tailored to
address their specific needs. In addition to other multiple funding
partners, these investments support the state of Hawai'i's
priorities in early childcare and affordable housing and exemplify
the power of public and private collaborations.
In collaboration with Urban Housing Communities, Ikaika
'Ohana, and Hunt Capital Partners, CVS Health invested
$17.5 million to help build 200 new
affordable housing units at Kaiāulu o Kūku'ia in
Lahaina, Maui. This development will bring critically
needed affordable housing for families in the area, much of which
was devastated by the 2023 Maui wildfires. Ikaika 'Ohana,
co-developer and Hawai'i-based nonprofit, will be
coordinating services to residents including immunizations and
health screenings, childcare, GED and ESL classes, occupational
certification courses, resume preparation and job referrals, and
financial counseling. In addition, the Bezos Academy will be
operating a Montessori preschool onsite free of charge for the
pre-school aged children living at Kaiāulu o
Kūku'ia.
"Hunt Capital Partners is proud to be part of the rebuilding of
Lahaina. The affordable rental homes at Kaiāulu o
Kūku'ia will be the first permanent housing to be delivered
in Lahaina since the devasting
fires in August," shared Steve Colón, Executive Vice
President of Hunt Companies. "Our partners UHC and Ikaika
'Ohana are delivering a critically needed rental housing community
that will enable 200 area families to move into homes starting this
coming December."
Colón continued, "All of us at Hunt are grateful to have
collaborated with the community and organizations like UHC and
Ikaika 'Ohana as we create affordable housing for local families
statewide, but particularly now on Maui, which needs so much of our support. With
this investment, CVS Health is changing lives and helping to put
island residents into their own homes."
Furthering its investment in the state, CVS Health also invested
$17.3 million with The Kobayashi
Group, The Ahe Group and CREA, LLC to build 169 new affordable
housing units in Parkway Village at Kapolei, on the Island of
O'ahu. Horizon Housing Foundation, a St. Louis-based nonprofit, will be providing
no-cost services to residents, including education and building
community, health, and wellness programs Kamehameha Schools, a
Hawai'i-based, nationally recognized education group, will
operate a tuition free preschool on the ground floor of one of the
five residential buildings, along with the Board of Education and
Partners in Development Foundation.
"Parkway Village is an incredible project in Hawai'i's fastest
growing community that we are so proud of ," said Alana Kobayashi Pakkala, Executive Vice
President and Managing Partner of Kobayashi Group. "We know the
importance of affordable housing and early childhood education,
especially in West O'ahu, so we're grateful for this public-private
collaboration with CVS Health, City and County of Honolulu and HHFDC."
The integration of early childcare facilities into both
developments aligns with the state's universal access to preschool
initiative, Ready Keiki, spearheaded by Lt. Gov. Sylvia Luke. "Partnerships, such as the
collaboration with CVS Health, play a pivotal role in fostering
nurturing communities, where families receive comprehensive
support, and our children are provided with the environment to
thrive and realize their full potential," said Luke. "As we work to
ensure all Hawaiʻi children are ready for kindergarten and beyond,
the support from CVS Health and community partners is
invaluable."
With the addition of Kaiāulu o Kūku'ia and Parkway
Village, CVS Health has invested $62.2
million in affordable housing across Hawai'i to date,
highlighting the company's efforts to advance health equity by
addressing social determinants of health at the local level.
Through these investments, CVS Health has provided historically
underserved Hawai'i communities with quality housing and increased
access to childcare and health care services based on the unique
needs of each local population.
Beyond its affordable housing investments, CVS Health's
commitment to improving the health and wellbeing of Hawai'i
residents can be seen through its philanthropic efforts, workforce
initiatives and expanded retail presence in the region.
Residents of Kaiāulu o Kūku'ia and Parkway Village will
have access to educational opportunities and employment services
and training through two new career skills labs in Kahului and Waimānalo. Funded in collaboration
with CVS Health and the University of Hawai'i Maui College and Hawai'i Job Corps,
respectively, the mock Longs Drugs pharmacy environments offer
virtual and hands-on pharmacy technician skills training to help
reduce employment barriers and provide the tools participants need
to succeed in the workplace.
And recently, CVS Health opened a new Longs Drugs store in
Kapolei on O'ahu, marking
the company's 60th Longs Drugs location in
Hawai'i. Given the significance of local relationship to
Lahaina residents, financing a new
affordable housing investment after the wildfires reinforces the
importance of Longs as an anchor in the community. Following the
2023 Maui wildfires, the area pharmacy team provided daily
deliveries to three community shelters to help ensure continued
access to medication and hosted a three-week drive-thru donation
clinic to provide preventative care and essential goods to
residents while working to reopen the impacted store for the
community as quickly as possible.
Also, following the fires, the CVS Health Foundation committed
$450,000 to several organizations
providing direct relief, including the Hawai'i Community
Foundation's Maui Strong Fund, the American Red Cross, and World
Central Kitchen. CVS Health customers contributed over $2 million to our in-store fundraising campaign
to support the Maui Strong Fund and the Maui United Way.
"These investments and collaborations echo our longstanding
commitment to supporting and uplifting the people of
Hawai'i," said Scott Sutton,
Regional Director, CVS Health. "We're providing community members
with access to meaningful affordable housing, health care, and
educational and workforce opportunities to ensure that they have
the resources they need to improve their overall wellbeing."
About CVS Health
CVS Health® is the leading
health solutions company, delivering care like no one else can. We
reach more people and improve the health of communities across
America through our local presence, digital channels and over
300,000 dedicated colleagues — including more than 40,000
physicians, pharmacists, nurses and nurse practitioners. Wherever
and whenever people need us, we help them with their health —
whether that's managing chronic diseases, staying compliant with
their medications or accessing affordable health and wellness
services in the most convenient ways. We help people navigate the
health care system — and their personal health care — by improving
access, lowering costs and being a trusted partner for every
meaningful moment of health. And we do it all with heart, each and
every day. Follow @CVSHealth on social media.
Media contacts
Monica
Prinzing
831-241-8294
PrinzingM@cvshealth.com
Rebecca Ferrick
FerrickR@cvshealth.com
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SOURCE CVS Health