UnitedHealth Group Inc. has upped its funding of affordable housing units with a new multi-million dollar investment.
The company said it has invested $100 million in the Health & Housing Fund, a partnership with Stewards of Affordable Housing for the Future and National Affordable Housing Trust. The investment will build 1,000 apartments for families and older adults fighting housing insecurity.
The first three developments built with the investment will be the 100-apartment Anacostia Gardens in Washington, by the NHP foundation; the 40-apartment Morning Star Apartments, in Wharton, Texas, by National Church Residences; and the 30-apartment Bent Oak Village, in Chocktow, Oklahoma, by Volunteers of America. Locations for the other 830 apartments will be announced in the coming months.
UnitedHealth Group said it is also providing a $1 million grant to provide health services to residents of the new apartments.