CVS Health invests $15 million in affordable apartments in San Antonio

Business // Commercial real estate
Photo by Steven Santana

The new affordable apartments will have affordable units for individuals and families between 30-60% of median income.

Courtesy of CVS Health

CVS Health, the healthcare company behind more than 9,900 pharmacies in the United States, is investing $15.3 million in a Northside affordable housing development in San Antonio. The company is partnering with Indiana-based developer Pedcor Investments and the San Antonio Housing Trust to fund the 312 Crosswind apartments that will be located at 4114 N Loop 1604 East, according to a press release.

Crosswind Apartments will consist of 13 three-story apartment buildings that will include one-, two-, and three-bedroom units.

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The units will support individuals and families earning between 30% and 60% of the region’s median income. These incomes vary between $15,600 and $31,140 for a single person and between $22,250 and $44,460 for a family of four. city ​​data.

“This represents a major step toward our commitment to the House America initiative by creating new, highly affordable housing for our residents,” Mayor Ron Nirenberg said in the news release.

CVS Health says the investment is part of its commitment to advancing health equity, investing $185 million in affordable housing nationwide in 2021 and $1.3 billion over the next 20 last years. This includes $93 million in Texas.

An expected start date was not disclosed. MySA has contacted CVS Health for comment.


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