CVS Health, a leading health solutions company, announced on April 24, 2024, its commitment to invest $19.2 million in the development of 85 new affordable housing units in Arvada. This move is part of CVS Health’s pledge to improve health conditions across the country through access to quality, affordable housing, particularly in historically underserved communities.
The project, named Marshall Street Landing, is currently under construction and aims to provide a supportive housing community for homeless individuals and families. All the participants in this scheme will receive project-based vouchers and access to supportive services, helping to end the cycle of homelessness and ensure stabilized housing.
“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.”
Residents at Marshall Street Landing will benefit from mental health and substance use counseling from the Jefferson Center for Mental Health, as well as trauma-informed case management, advocacy, information and referrals, and crisis assistance from Family Tree.
“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.”
Upon completion in Summer 2025, each fully-furnished unit at Marshall Street Landing will feature essential amenities, such as a range, refrigerator, air conditioning, luxury vinyl flooring, window coverings, and carpeting. The property will also offer 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.
This investment by CVS Health aligns with the company’s nationwide commitment to addressing housing insecurities across the country. Over the past five years, CVS Health has invested in the creation, preservation, and renovation of more than 22,600 affordable rental units, including special provisions for families, seniors, veterans, LGBTQ+ individuals in need of support, single-parent households, victims of domestic violence, youth aging out of foster care, victims of human trafficking, and others facing life challenges.
Overall, CVS Health has invested more than $43 million in affordable and supportive housing units in Colorado alone, creating, preserving and renovating over 2,100 units, demonstrating their ongoing commitment to health equity through housing security.
Source: Press Release