UnitedHealth Group has invested an additional $100 million in affordable housing initiatives.
This latest funding brings the company's total investment in affordable housing to nearly $800 million, which has led to the creation of 19,000 housing units for individuals and families. More than 1,000 units will be established as a result of the latest investment.
UnitedHealth's housing investments are a part of the Health & Housing Fund, launched in partnership with Stewards of Affordable Housing for the Future (SAHF) and the National Affordable Housing Trust (NAHT).
“The need for affordable housing and the connection between housing and health continues to be top of mind throughout the communities we serve,” said Tim Spilker, CEO of UnitedHealthcare Community & State, in a statement.
“Our work to address social determinants and help to create new affordable housing opportunities that include support services is driving better health outcomes for some of the nation’s most underserved populations," Spilker said.
The insurance giant initially unveiled its partnership with SAHF and NAHT in June 2020, when it made an initial $118 million investment to fund 15 affordable housing communities in 11 states and the District of Columbia. UnitedHealth also backed $1 million in grants to provide on-site healthcare services to residents in these communities.
As part of the latest funding, construction has already begun on three new communities that will offer nearly 250 units for older adults and families in East Point, Georgia; Monroe, North Carolina; and Beaverton, Oregon. A $1 million investment will support on-site services that allow SAHF to track residents' health outcomes.