CVS Health will invest $18.4 million in 41 affordable housing units at Blackstone and Arthur avenues in Fresno, the company announced Tuesday morning.
The Arthur @ Blackstone project, which will include 20 units for special needs youth, is a partnership with Fresno Housing. Groundbreaking is expected soon.
These units are for youth who are aging out of foster care, transitioning from institutions, or have a history in the justice system.
Residents will receive comprehensive case management and full wrap-around supportive services coordinated by the Fresno County Department of Behavioral Health.
The other 21 units will be reserved for low-income families.
“We know that when families have access to affordable housing, they are better able to improve their physical, mental, and emotional health. That’s why our partnership with CVS Health is exciting and innovative for the families we serve in our community,” said Tyrone Roderick Williams, CEO of Fresno Housing, in a news release. “We are honored to be selected by CVS Health again to further our mission to provide affordable, healthy housing throughout Fresno County.”
CVS Health invested $185 million in affordable housing nationwide in 2021, bringing its total to $1.3 billion over the past 20 years, including $37.2 million in Fresno.
This is the third project involving CVS Health and Fresno Housing since 2019. The company invested $4.6 million in renovations at the Villages at Paragon, which has 28 units for the homeless. And it invested $2.1 million in the Villages at Broadway, a 26-unit complex to serve the homeless that is nearing completion.
In Fresno, CVS Health is working with the Fresno Economic Opportunities Commission, Clinica Sierra Vista, and the Central California Food Bank to address housing and education, and access to food, labor, transportation, and healthcare.
“To make a meaningful impact, we need to address social determinants of health at the local level and be intentional with our approach,” Jeff Hermosillo, California Market President, Aetna, a CVS Health company, said in a news release. “We’re committed to investing in the Fresno community and meeting the needs of individuals and families by providing them with resources that enable equal opportunity for achieving good health.”
In February of 2020, CVS Health celebrated the opening of Sequoia Commons, a 66-unit affordable housing development near Visalia. The nonprofit Self-Help Enterprises project received funding as part of a $20 million commitment the company made to a Red Stone Equity Partners fund for low-income housing tax credits.