The investment builds upon efforts to increase
access to permanent supportive housing, reduce homelessness
WOONSOCKET, R.I., April 24,
2024 /PRNewswire/ -- CVS Health® (NYSE: CVS) today
announced it has invested $19.2
million through Boston Financial to build 85 new
affordable housing units in Arvada,
Colorado. Made possible through the company's collaboration
with Family Tree and BlueLine Development, the investment
demonstrates CVS Health's commitment to improving the health of
individuals across the country, which begins with providing access
to quality, safe, affordable housing, especially in historically
underserved communities.
"A critical component to improving an individual's health and
well-being is access to quality, safe, affordable housing," said
Frank J. Benedetto, Regional
Director, Sales and Account Management at Aetna, a CVS Health
company. "Through the development of Marshall Street Landing,
unhoused residents will have supportive housing, that provides
access to the important resources they need to maintain stability,
create positive changes, and ultimately lead healthier lives."
Construction of the development, known as Marshall Street
Landing, is currently underway and will provide a permanent
supportive housing community for families and individuals
experiencing homelessness. All participants will receive Project
Based vouchers and have access to robust supportive services
dedicated to educating and assisting residents with ending the
cycle of homelessness and helping them to remain in stabilized
housing.
The Jefferson Center for Mental Health will offer mental health
and substance use counseling, while Family Tree will provide
trauma-informed case management, advocacy, information and
referrals, crisis assistance and on-site life-skills educational
programming.
"Marshall Street Landing is a testament to what we can achieve
when we come together with a shared vision of compassion and
inclusivity," said Dontae Latson,
CEO of Family Tree. "Permanent supportive housing is not merely a
place to live; it is a foundation for life. It offers individuals
and families who have faced homelessness or disabling conditions
not just shelter, but a community and a sense of belonging."
Following its completion in Summer 2025, each unit at Marshall
Street Landing will be fully furnished and feature a range,
refrigerator, air conditioning, luxury vinyl floor, window
coverings, and carpeting. Additional property amenities will
include a community kitchen, common and laundry rooms, on-site
management, a picnic area, playground, community garden, parking,
24-hour front desk coverage, and controlled access to the
property.
CVS Health's investment in Marshall Street Landing is a local
demonstration of the company's longstanding commitment to advancing
health equity by addressing housing insecurities in communities
across the country. In the past five years, CVS Health has made
investments nationally to create or preserve and renovate more than
22,600 affordable rental units, including 14,300 for families and
5,800 for seniors. In addition, these investments have helped
create nearly 2,500 permanent supportive housing units for
veterans, LGBTQ+ individuals in need of support, those experiencing
homelessness, single-parent households, victims of domestic
violence, youth aging out of foster care, those with physical,
intellectual, and/or developmental disabilities, those in need of
mental health or substance abuse support, Second Chance
participants, victims of human trafficking, and other groups that
may be facing challenges in their lives.
To date, CVS Health has invested over $43
million to create, preserve and renovate over 2,100
affordable and supportive housing units throughout Colorado. Through the company's
investments and collaborations with vision-aligned developers and
service providers, CVS Health has been able to provide quality
housing and increased access to health care services based on the
unique needs of the regional population.
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