CVS Health has exceeded $200 million in affordable housing investments in California, according to an April 6 statement.
The milestone for the company, which has invested in more than 130 affordable housing communities across the state over the last few years, was achieved with the recent closing of a $12.1 million investment in a Los Angeles County housing development. The project will provide 80 homes for families with low incomes and those affected by homelessness, according to the statement.
The latest project is included in the $43 million the company has invested in affordable housing throughout the state over the last year. The investments will lead to the construction and rehabilitation of more than 850 affordable homes in 10 cities.
More than 260 of those homes will be dedicated to housing seniors, and 100 will be reserved for veterans and their families. Three hundred and fifty homes will be considered permanent supportive housing, and dedicated to those affected by issues including homelessness, mental health, chronic illness and addiction, the statement read.
CVS Health has also invested in affordable housing projects across Phoenix.