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CVS Health invests $6.2 million in affordable housing in Bel Aire

November 18, 2022 |3 minute read time

Stakeholders shown holding gold shovels at the groundbreaking for Homestead Senior Residences Bel Aire

New investment will help provide affordable, stable housing and supportive services to seniors 

WOONSOCKET, R.I., Nov. 15, 2022 — CVS Health (NYSE: CVS) today announced it will invest $6.2 million with Homestead Affordable Housing, Inc. and WNC to build 36 new affordable housing units in Bel Aire, Kansas as part of the company’s commitment to advancing health equity by addressing social determinants of health at the local level.

“When people have access to high-quality affordable housing and supportive services, they are able to focus on taking care of their mental and physical health,” said Jane Brown, Aetna Better Health of Kansas CEO. “Our investment in Kansas will help improve health outcomes for seniors and provide them a space to feel connected to their community.”

The nine one-story four-plex buildings, called Homestead Senior Residences (HSR) Bel Aire will be located at the corner of Oliver Street and E 53 Street North in Sedgwick County. It will offer a community center and supportive services to residents, including workshops on financial management, identity protection, detailing plans for success in housing and fire prevention. Additionally, HSR residents will benefit from the Beef for Seniors program, where beef from local farms is purchased by banks and community members through donations after the county fair. The beef is then distributed to senior citizen apartment buildings in the area at no cost to residents.

For the last few years, rural communities in Kansas have been struggling with a lack of affordable housing, especially among the senior population. According to the National Low Income Housing Coalition, nearly 1 in every 4 low-income renters in Kansas are senior households at or below the poverty guidelines or 30% of the area median income. Sedgwick county has the highest population of seniors aged 55 and older in the state, and its residents are often dual eligible for both Medicare and Medicaid health plans.

CVS Health is working with Homestead Affordable Housing, Inc., which for years has worked to develop affordable housing and help rural Kansas communities thrive. Through CVS Health’s investment, Homestead Affordable Housing, Inc. will build new units with central air conditioning, patios and 24 units will include an attached garage. Each unit will also include a washer and dryer room, which also is a protective shelter in the event of a national disaster. The community will also include a garden, fitness center, dog park and on-site management.

“The city of Bel Aire and CVS Health have been excellent to work with in the process of bringing this development to life, and we are extremely excited to serve seniors within our community,” said Thomas Bishop, president and CEO of Homestead Affordable Housing, Inc. “All is moving forward and going well, and this groundbreaking marks the first steps in delivering the seniors of Bel Aire their new homes.”

About CVS Health

CVS Health® is the leading health solutions company, delivering care like no one else can. We reach more people and improve the health of communities across America through our local presence, digital channels and over 300,000 dedicated colleagues – including more than 40,000 physicians, pharmacists, nurses and nurse practitioners. Wherever and whenever people need us, we help them with their health – whether that’s managing chronic diseases, staying compliant with their medications or accessing affordable health and wellness services in the most convenient ways. We help people navigate the health care system – and their personal health care – by improving access, lowering costs and being a trusted partner for every meaningful moment of health. And we do it all with heart, each and every day. Follow @CVSHealth on social media.