CVS Health® (NYSE: CVS) has recently announced an investment of $19.2 million through Boston Financial. The investment will be used to build 85 new affordable housing units in Arvada, Colorado. The project is a result of a collaboration between CVS Health, Family Tree, and BlueLine Development. The investment reflects CVS Health’s commitment to improving the health of individuals across the country by providing access to quality, safe, and affordable housing, especially in historically underserved communities.
“A critical component to improving an individual’s health and well-being is access to quality, safe, affordable housing,” said Frank J. Benedetto, Regional Director, Sales and Account Management at Aetna, a CVS Health company. “Through the development of Marshall Street Landing, unhoused residents will have supportive housing, that provides access to the important resources they need to maintain stability, create positive changes, and ultimately lead healthier lives.”
Construction of the development, which is called Marshall Street Landing, is currently in progress. Once completed, it will serve as a permanent supportive housing community for families and individuals who are experiencing homelessness. All participants will receive Project Based vouchers and have access to a wide range of supportive services. These services are aimed at educating and assisting residents in ending the cycle of homelessness and enabling them to maintain stable housing.
The Jefferson Center for Mental Health will provide mental health and substance use counseling, while Family Tree will offer trauma-informed case management, advocacy, information and referrals, crisis assistance, and on-site life-skills educational programming.
“Marshall Street Landing is a testament to what we can achieve when we come together with a shared vision of compassion and inclusivity,” said Dontae Latson, CEO of Family Tree. “Permanent supportive housing is not merely a place to live; it is a foundation for life. It offers individuals and families who have faced homelessness or disabling conditions not just shelter, but a community and a sense of belonging.”
Following its completion in the summer of 2025, every unit at Marshall Street Landing will come fully furnished, complete with a range, refrigerator, air conditioning, luxury vinyl flooring, window coverings, and carpeting. The property will also feature a community kitchen, common and laundry rooms, on-site management, a picnic area, playground, community garden, parking, 24-hour front desk coverage, and controlled access to the property for added safety.
CVS Health’s investment in Marshall Street Landing is a testament to the company’s longstanding commitment to promoting health equity by addressing housing insecurities in communities across the United States. Over the past five years, CVS Health has invested nationally to create or preserve and renovate more than 22,600 affordable rental units, including 14,300 for families and 5,800 for seniors. These investments have also helped create nearly 2,500 permanent supportive housing units for various groups, such as veterans, LGBTQ+ individuals, single-parent households, those experiencing homelessness, victims of domestic violence, youth aging out of foster care, those with physical, intellectual, and/or developmental disabilities, those in need of mental health or substance abuse support, Second Chance participants, victims of human trafficking, and others facing similar challenges.
CVS Health has invested over $43 million to create, preserve, and renovate more than 2,100 affordable and supportive housing units throughout Colorado. Thanks to the company’s investments and collaborations with like-minded developers and service providers, CVS Health has been able to provide quality housing and improved access to healthcare services that cater to the unique needs of the local population.
