UnitedHealth Group made another investment in affordable housing projects in Illinois and Louisiana Jan. 29, weeks after it invested in a similar project in Minnesota.
On Jan. 29, the National Affordable Housing Trust closed funding for a low-income housing project called Valencia Park in Baton Rouge, La. The funding was closed in partnership with Renaissance Neighborhood Development Corp. and investment from UnitedHealth. The trust closed on nearly $6 million of equity for a 122-unit apartment complex. About half of the units will be set aside for veterans.
Also on Jan. 29, the trust closed $15.4 million in equity for a low-income housing project in Chicago. The funding was closed in partnership with nonprofit housing and development organization The Community Builders and an investment from UnitedHealth. The complex will have 53 units, with the majority of the units set aside for low-income families.
In June 2020, UnitedHealthcare announced a $100 million investment in the Health & Housing Fund, which partners with the National Affordable Housing Trust. That investment brought UnitedHealthcare's total investments in affordable housing efforts to $500 million.
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