Amerigroup Brings More Than $85 Million to Texas for Affordable Housing

Rhea-AI Summary

Anthem Inc. (ANTM) has invested over $85 million in affordable housing developments in Texas, with $55 million specifically allocated to the Balcones Trails Complex in Kyle.

This effort aims to enhance the quality of life for vulnerable populations by providing access to safe and affordable housing, alongside supportive services from Amerigroup Texas. The nationwide investment is part of a $410 million initiative to address housing stability and health outcomes for low-income families.

Positive

• Investment of over $85 million in affordable housing development.
• Creation of 276-unit Balcones Trails complex to support low-income families.
• Amerigroup's commitment to providing on-site services promoting health and community well-being.

Negative

• None.

More than $55 million has gone toward funding the Balcones Trails Complex, an affordable housing development, which will feature Amerigroup support programs that promote healthy living.

AUSTIN, Texas--(BUSINESS WIRE)-- Anthem, Inc., the parent company of Amerigroup Texas, has invested more than $85 million for the development of affordable housing in Texas, as part of Anthem and Amerigroup’s commitment to improving lives and communities. The funds have been established through investments made to the federal Low Income Housing Tax Credit (LIHTC) program, and Amerigroup Texas played a key role in helping to direct funds to Texas initiatives. In Kyle, Texas, $55 million of this funding is helping to finance the Balcones Trails complex, a housing development that will feature onsite healthy living resources supported by Amerigroup.

“The investment is part of a $410 million nationwide effort by Anthem in support of Amerigroup’s commitment to provide for the whole health needs of individuals, families and communities by expanding access to safe, stable and affordable housing,” said Greg Thompson, President of Amerigroup Texas. “As these housing options are completed, Amerigroup will stay engaged to provide on-site supportive services that promote active and healthy living.”

Since 2006, Anthem has committed millions of dollars in investments for affordable housing in 45 states, the District of Columbia, Puerto Rico and Guam. These investments are part of a multi-year effort to address and create more stable housing environments for some of the nation’s most vulnerable residents, including low- and moderate-income individuals and families, seniors, and people living with intellectual and/or developmental disabilities. The Balcones Trails complex will be a 276-unit multi-family community that will provide high-quality housing for residents living and working in and near the city of Kyle. Residents living in Balcones Trails will also have access to a variety of services offered by Amerigroup Texas and focused on improving health, employment and educational outcomes.

“Stable, quality housing is a basic right and a critical part of the infrastructure needed to support a community’s long- and short-term goals,” said Chris Dischinger, co-founder and co-principal of LDG Development, which is building Balcones Trails. “The addition of Balcones Trails, coupled with the services residents will have access to, will lead to the outcomes needed to ensure the area remains healthy, strong and well-positioned for future growth.”

The Balcones Trails project was announced on March 25, during a groundbreaking ceremony at 451 Philomena Drive, the future home of the housing development. Housing in this community will be reserved for families earning up to 60 percent of the area median income, or $59,340 annually for a family of four. Units are expected to become available for residents in Spring 2023.

“Amerigroup has been committed to comprehensively improving health outcomes for Texans since we began serving the state in 1996, and increasing access to affordable, safe, supportive housing is another example of how we are making a positive impact in Texas,” said Dr. Cealee Thomas, Medical Director and leader of Amerigroup Texas population health efforts. “Homelessness and housing insecurity have emerged as a critical barrier to achieving whole health, so it is an honor for Amerigroup Texas to play such a key role in creating solutions that improve lives across our state.”

Amerigroup Texas is also planning to work with developers in other parts of Texas to help fund additional affordable housing developments, which will also be financed by LIHTC investments made by Anthem. As with the Kyle development, Amerigroup will stay engaged with property managers after the completion of construction to identify and address concerns that surface as barriers to healthy living.

ABOUT AMERIGROUP TEXAS

Amerigroup Texas helps improve healthcare access and quality for more than a million Texans by developing innovative care management programs and services. Consumers are assured care that is not only accessible, but also accountable, comprehensive, integrated and patient-centered. Amerigroup Texas provides ongoing community relations and outreach to encourage consumers to become active participants in their healthcare. Through health education programs, consumers are empowered to choose and sustain a healthy lifestyle. For more information about Amerigroup Texas, visit www.myamerigroup.com/tx.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220328005146/en/

Denise Malecki

dionisia.malecki@amerigroup.com

Source: Amerigroup Texas

FAQ

What is the recent investment made by Anthem Inc. (ANTM) in Texas?

Anthem Inc. has invested over $85 million in affordable housing developments in Texas, including $55 million for the Balcones Trails Complex in Kyle.

What is the Balcones Trails Complex funded by Anthem Inc. (ANTM)?

The Balcones Trails Complex is a 276-unit affordable housing development in Kyle, Texas, aimed at low-income families and supported by Amerigroup Texas.

When will the housing units in the Balcones Trails Complex be available?

Units in the Balcones Trails Complex are expected to be available for residents in Spring 2023.

How does Anthem Inc. (ANTM) plan to support residents in the new housing development?

Amerigroup Texas will provide on-site supportive services aimed at improving health, employment, and educational outcomes for residents.

What is Amerigroup's role in affordable housing in Texas?

Amerigroup Texas is actively involved in developing affordable housing projects and will continue to engage with property managers to support healthy living environments.