CVS Well being to Make $9.2 Million Funding in A lot-Wanted Inexpensive Housing Growth in Washington’s Congress Heights Space

CVS Health to Make $9.2 Million Investment in Much-Needed Affordable Housing Development in Washington's Congress Heights Area

WASHINGTON, DC – CVS Health announced that it will invest $ 9.2 million with WNC & Associates, Inc. to provide 41 units of much-needed, affordable housing for families and individuals in Washington, DC, on the social determinants of health in underserved communities.

"When people have access to quality, affordable housing, they can better take care of their health and manage chronic diseases," said David Casey, senior vice president and chief diversity officer, CVS Health. "As part of our commitment to addressing social justice and racial inequality, we address social determinants of health at the community level, where we can make a meaningful and lasting impact."

Washington, D.C., has one of the highest poverty rates in the country, behind Mississippi, Louisiana, and New Mexico, according to the DC Fiscal Policy Institute. At 18.6%, it is well above the national average of 12.7%.

CVS Health is partnering with the NHP Foundation ("NHPF") and Legacy Real Estate Development to build the affordable 41-unit housing development located on 17 Mississippi Avenue in the Congress Heights area of ​​DC & # 39; s Ward 8 will be located. Other funding partners include District of Columbia Housing Finance Agency, Citi Community Capital and the Housing Production Trust Fund of the DC Department of Housing and Community Development.

"The resources brought together through this partnership will ensure residents of 17 Mississippi Islands enjoy new rental homes and amenities in a changing, affordable neighborhood," said Tim Pryor, vice president, Acquisitions, NHPF. "We are grateful to the donors for making this important building possible."

The new development, called 17 Mississippi Apartments, will offer families and individuals with proven needs a mix of studios, one-bedroom apartments and three-bedroom apartments. Nine of the 41 units will provide permanent supportive accommodation to people who are homeless or in need of psychological support. Another nine units will give preference to income-qualified artists. Planned amenities include on-site administration, a common room, an artist's studio, and a bicycle storage room. All units are reserved for residents earning 50% or less of the region's median income.

Community Connections, an experienced mental health nonprofit, will provide case management assistance to residents, including life skills, counseling and homeless services, recovery and treatment programs, family and youth services, and employment resources. The community is under construction and is expected to be completed in mid-2023.

"Our investment in the DC community will provide safe living with direct access to medical care – a commitment that will directly impact the local community in the years to come," said Mike Bucci, president, Capitol Market, Aetna, a company from CVS Health.

As CVS Health works to address social determinants of health in Washington, DC, the company is also exploring opportunities to expand its national human resources initiative program in the area to break the cycle of poverty by providing recruitment and training to the community .


Please enter your comment!
Please enter your name here