CVS Health to Invest $12.4 Million in Affordable Housing and Expand No-Cost Preventive Health Screenings in Phoenix

Rhea-AI Summary

CVS Health announced a $12.4 million investment in affordable housing, constructing 60 units in south Phoenix. This initiative is part of CVS's larger commitment to tackle racial inequity, aiming to spend $600 million over five years in communities of color. The new development, Newsom Village, will provide reduced-rent apartments and will partner with UMOM New Day Centers, which is experienced in affordable housing. Additionally, CVS will expand its Project Health program, offering free health screenings to locals, directly addressing social determinants of health.

Positive

• Investment of $12.4 million to build 60 affordable housing units in south Phoenix.
• Partnership with UMOM New Day Centers to support local housing needs.
• Expansion of Project Health program offering free health screenings to the community.
• Commitment to spending $600 million over five years to address racial inequity.

Negative

• None.

WOONSOCKET, R.I., March 4, 2021 /PRNewswire/ -- CVS Health (NYSE: CVS) today announced it will invest $12.4 million to build 60 new units of affordable housing in south Phoenix and expand the company's no-cost preventive health screening program, Project Health, in the greater Phoenix area as part of CVS Health's commitment to provide $600 million over five years to address racial inequity and social determinants of health in Black communities. 

"When people have access to high-quality, affordable housing and services like preventive screenings, it puts them in a better position to take care of their health and manage chronic disease," said David Casey, SVP and Chief Diversity Officer, CVS Health. "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."

The new, 60-unit Newsom Village development will be located at 4020-4032 S 9th Street in south Phoenix. Data compiled from the Arizona Health Services indicate approximately 79% of south Phoenix area residents identify as Black or Latino. Additionally, according to the Phoenix Housing Plan, more than 50% of south and west Phoenix area households pay greater than 30% of their income on housing costs. In comparison, less than 29% of households were housing cost-burdened in north Phoenix.

"Phoenix residents deserve housing options regardless of their income, and having a safe and comfortable place to live is important for people to be able to maintain their health," said City of Phoenix Councilmember Carlos Garcia. "The investment from CVS Health in affordable housing and preventative health screenings in Phoenix is a positive step forward for residents who have historically experienced housing and health inequities in the area. It is even better that they have chosen to partner with UMOM, an organization that is already embedded in our south Phoenix community."

CVS Health is working with local nonprofit, UMOM New Day Centers, which is developing Newsom Village and is Arizona's innovative leader in shelter, services, and housing for families, single women, and youth experiencing homelessness. In addition to shelter and services, UMOM currently has over 500 affordable housing units in the Valley, with an additional 72 units opening in Glendale this year. Newsom Village, the new 60-unit complex will offer two- and three-bedroom apartments at reduced rent to families with demonstrated need. The complex will also have units set aside for victims of domestic violence.

"There are far too many families who are either experiencing homelessness or are one step away from losing their home in the Valley," said Jackson Fonder, CEO of UMOM New Day Centers. "With only 23 units available for every 100 households who need affordable housing, this partnership with CVS Health will make it possible for many people to have access to a place they can afford. Collaborations with corporations such as CVS Health are so important – we could not serve as many families and individuals as we do without their help."

CVS Health will also expand its Project Health no-cost biometric screening program to the greater Phoenix community. Project Health, which has historically offered screenings at CVS Pharmacy locations in select cities, will expand to the Phoenix area with a new mobile RV, which will bring these preventive screenings to communities across Phoenix. Project Health offers free biometric screenings to help identify chronic conditions before they become life-threatening illnesses. Valued at over $100, these no-cost screenings measure body mass index (BMI), blood pressure, glucose and total cholesterol. The screenings can detect early risks for chronic conditions like diabetes, hypertension, and heart disease. Following the screening, participants will have the opportunity to consult with nurse practitioners who can help explain the risks of certain measures from each screening, and how to take the appropriate next steps with a health care provider. 

"Expanding Project Health to cities where we are addressing other social determinants of health, like housing, multiplies our impact in the community," said Eileen Howard Boone, SVP of Corporate Social Responsibility and Philanthropy, CVS Health. "We anticipate being able to reach thousands of people locally and provide hundreds of thousands of dollars in free medical services in Phoenix in our first year."

The company is planning to begin holding Project Health events in the early summer. Events will be held in areas of Phoenix with higher populations of uninsured and underinsured people, including at locations where UMOM is currently serving homeless and other people in need.

As the company works to address social determinants of health in the Phoenix area, it will also expand its national workforce initiatives program in Phoenix to help break the cycle of poverty by providing meaningful employment services and training to the community. This work will include expanding the company's registered apprenticeship program and experience program to provide community members and job seekers with the tools they need to succeed in meaningful careers.

About CVS Health

CVS Health is a different kind of health care company. We are a diversified health services company with nearly 300,000 employees united around a common purpose of helping people on their path to better health. In an increasingly connected and digital world, we are meeting people wherever they are and changing health care to meet their needs. Built on a foundation of unmatched community presence, our diversified model engages one in three Americans each year. From our innovative new services at HealthHUB® locations, to transformative programs that help manage chronic conditions, we are making health care more accessible, more affordable and simply better. Learn more about how we're transforming health at www.cvshealth.com.

 

Media Contact:

Courtney Tavener
(401) 712-3698
Courtney.Tavener@CVSHealth.com

View original content to download multimedia:http://www.prnewswire.com/news-releases/cvs-health-to-invest-12-4-million-in-affordable-housing-and-expand-no-cost-preventive-health-screenings-in-phoenix-301240459.html

SOURCE CVS Health

FAQ

What investment is CVS making in affordable housing in Phoenix?

CVS is investing $12.4 million to build 60 new units of affordable housing in south Phoenix.

What is the purpose of CVS's Project Health program?

Project Health provides no-cost biometric screenings to identify chronic health conditions before they become serious.

Who is CVS partnering with for the housing initiative?

CVS is partnering with UMOM New Day Centers to develop the Newsom Village housing units.

What is the demographic focus of CVS's investment in Phoenix?

The investment targets communities, primarily Black and Latino residents, who experience housing and health inequities.

When will CVS Health start its Project Health events in Phoenix?

CVS Health plans to begin Project Health events in early summer in areas of Phoenix with high uninsured populations.