CVS Health Allocates $19.2 Million Towards Affordable Housing in Arvada, Colorado

CVS Health® (NYSE: CVS) revealed today a significant investment of $19.2 million, facilitated via Boston Financial, earmarked for the construction of 85 new affordable housing units in Arvada, Colorado. This initiative, executed in partnership with Family Tree and BlueLine Development, underscores CVS Health’s dedication to enhancing the well-being of individuals nationwide, starting with ensuring access to high-quality, secure, and affordable housing, particularly in historically marginalized areas.

Frank J. Benedetto, Regional Director of Sales and Account Management at Aetna®, a CVS Health entity, emphasized, “Access to quality, secure, affordable housing is a pivotal element in enhancing an individual’s health and overall well-being.” He elaborated, “Through the establishment of Marshall Street Landing, individuals facing homelessness will gain access to supportive housing, enabling them to access essential resources crucial for maintaining stability, fostering positive transformations, and ultimately leading healthier lives.”

The development, named Marshall Street Landing, is presently under construction and is poised to provide a permanent supportive housing enclave for families and individuals grappling with homelessness. Participants will receive project-based vouchers and benefit from comprehensive supportive services aimed at equipping them with the tools necessary to break free from the cycle of homelessness and sustain stable housing.

The Jefferson Center for Mental Health will offer mental health and substance use counseling services, while Family Tree will deliver trauma-informed case management, advocacy, informational support, crisis intervention, and on-site life-skills education.

Dontae Latson, CEO of Family Tree, reflected, “Marshall Street Landing epitomizes what we can achieve when we unite with a shared commitment to compassion and inclusivity.” He added, “Permanent supportive housing transcends mere shelter; it lays the groundwork for life, providing individuals and families who have experienced homelessness or disabling conditions with not only a place to live but also a community and a sense of belonging.”

Upon its anticipated completion in Summer 2025, each unit at Marshall Street Landing will be fully furnished and equipped with essential amenities such as a range, refrigerator, air conditioning, luxury vinyl flooring, window coverings, and carpeting. The property will also feature communal facilities including a kitchen, laundry rooms, on-site management, a picnic area, playground, community garden, parking, 24-hour front desk coverage, and controlled access.

CVS Health’s investment in Marshall Street Landing exemplifies the company’s unwavering commitment to advancing health equity by addressing housing insecurities in communities nationwide. Over the past five years, CVS Health has nationally invested in the creation or preservation and renovation of over 22,600 affordable rental units, benefiting families, seniors, veterans, LGBTQ+ individuals, homeless populations, single-parent households, survivors of domestic violence, youths transitioning from foster care, individuals with disabilities, and those in need of mental health or substance abuse support, among others.

To date, CVS Health has channeled over $43 million into creating, preserving, and renovating more than 2,100 affordable and supportive housing units across Colorado. Through strategic investments and collaborations with aligned developers and service providers, CVS Health continues to bolster access to quality housing and healthcare services tailored to the unique needs of regional populations.

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