CVS Health (NYSE: CVS) announced it has invested $19.2 million through Boston Financial to build 85 new affordable housing units in Arvada, Colorado.
The investment was made in collaboration with Family Tree and BlueLine Development. The development, known as Marshall Street Landing, will provide a permanent supportive housing community for families and individuals experiencing homelessness. All participants will receive Project Based vouchers and have access to 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.
The project is currently under construction with a scheduled completion in the summer of 2025.
“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.”
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