CVS Health: January 21, 2022, CVS Health to invest $6.5 million in affordable housing in Denver
CVS Health® (NYSE: CVS) today announced it will invest $6.5 million with Boston Financial Investment Management to build a 36-unit permanent supportive housing community, known as Charity’s House Place, for individuals experiencing homelessness and people with physical, intellectual, and/or developmental disabilities in the Five Points neighborhood in Denver. The investment is part of CVS Health’s commitment to advancing health equity and addressing social determinants of health in underserved communities.
According to the National Community Reinvestment Coalition’s 2020 report, Denver ranked second as the most intensely gentrified cities. Five Points, a designated cultural historic district, in recognition of its important role in African-American history is one of the neighborhoods most impacted. In addition, per the Metro Denver Homeless Initiative’s 2021 Point in Time Count, Black and African American individuals make up just over 5% of Metro Denver’s population, but represent more than 26% of people experiencing homelessness. Charity’s House Place will help preserve affordable housing in the Five Points neighborhood while providing residents with the resources they need to maintain stable housing and live healthier lives.
