CVS Health Invests $67 Mln In Affordable Housing

CVS Health Corp. said it invested $67 million in affordable housing in 2019 to support underserved populations across the country.

The investment has led to 2,200 affordable homes across 24 cities in six states. The investments are part of “Destination: Health”, a series of CVS Health business programs to help people improve their health outside of a clinical setting.

CVS Health said that its 2019 investments will result in nearly 300 Permanent Supportive Housing or PSH units for residents who have experienced domestic violence, homelessness, chronic illness, or requiring behavioral health and addiction treatment.

Another 450 units were dedicated to housing seniors, while 59 units were reserved specifically for veterans and their families. 38 units were dedicated to house American Indians and their families.

The company has invested more than $160 million for affordable housing in California over the past twenty years, with $50 million in the past two years alone.

CVS Health and healthcare insurer Aetna had merged in 2018. Since 1997, CVS Health and Aetna, have invested over $1 billion in affordable housing and community investments. These investments have supported the building and renovation of over 93,000 affordable rental units, according to CVS Health.

Looking ahead, CVS Health said that this year it expects to surpass its 2019 investment totals as well as the number of states impacted. The company has committed $25 million in investments in Ohio this year.

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