CVS Health spending $25 million to bring apartment complexes to NOLA, Opelousas
A new apartment complex is coming to Opelousas as part of a $25 million initiative by CVS Health and R4 Capital to build new affordable housing units for families, seniors and the homeless in the state.
OPELOUSAS, La. (KLFY) -- A new apartment complex is coming to Opelousas as part of a $25 million initiative by CVS Health and R4 Capital to build new affordable housing units for families, seniors and the homeless in the state.
CVS officials said they are working with Gulf Coast Housing Partnership (GCHP) to build a 32-unit development called Country Ridge Estates in Opelousas.
"The new apartments will offer one-, two- and three-bedroom apartments at a reduced rate, and over 30% of the units will be set aside for single-parent families and those experiencing homelessness," stated a press release from CVS this morning.
In addition, the same groups are working to bring 192 units to Oretha Castle Haley Blvd. and Thalia St. in New Orleans. The new development in Central City New Orleans will offer one-, two- and three-bedroom housing units at a reduced rent to families and seniors with demonstrated need. All residents will have access to "onsite supportive services, including a Federally Qualified Health Center to help increase access to primary care and behavioral health."
“When people have access to high-quality, affordable housing, it puts them in a better position to take care of their health and manage chronic disease,” said CVS Health SVP and Chief Diversity Officer David Casey. “As part of our commitment to address social justice and racial inequity, we're addressing social determinants of health at the community level, which is where we can make a meaningful and lasting impact.”
"According to a recent report from the National Low-Income Housing Coalition in July, rent is out of reach for most low-wage workers in every state," stated CVS's release. "In Louisiana, data compiled from the Louisiana Housing Corporation indicate that 45% of renters devote more than 35% of their household income to rent – the fifth highest in the country."