UnitedHealthcare Invests $2.3 Million to Build New Affordable-Housing Community for Seniors in Franklin County
November 03 2016 - 7:25PM
Business Wire
- Riverbend Estates will bring 42
affordable-housing units with onsite support services to help
seniors live healthier lives
- Investment is part of $34 million by
UnitedHealthcare to increase access to quality, affordable housing
in communities throughout Missouri
UnitedHealthcare is investing $2.3 million in Riverbend Estates
Senior Community, a new 42-unit affordable-housing development that
will give local seniors access to quality housing and onsite
support services.
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Community leaders and development
partners celebrate the start of construction for Riverbend Estates
Senior Community, a new 42-unit affordable-housing development in
Washington, Mo., that will give seniors access to quality housing
and onsite support services. UnitedHealthcare is investing $2.3
million in the new community, part of $34 million the company has
invested to help build 21 affordable-housing communities in the
state. L to R: Tom Green, Missouri Housing Development Commission;
State Rep. Justin Alferman; Washington Councilmember Joe Holtmeier;
David Putnam and Scott Brekenkamp, First State Community Bank;
Chuck Pierce, MOCAP Development; Washington Mayor Sandy Lucy;
Washington Councilmember Steve Sullentrup; Monica Swoboda,
Affordable Equity Partners; Kurt Heumann, UnitedHealthcare; and
State Sen. Dave Schatz (Photo: Andrea Weber).
The announcement was made at a groundbreaking ceremony where
community leaders and development partners celebrated the start of
construction.
UnitedHealthcare is making the investment in partnership with
Affordable Equity Partners (AEP) through the use of Low Income
Housing Tax Credits (LIHTC), which were approved by the Missouri
Housing Development Commission (MHDC). The property is being
developed by MOCAP Development and will be managed by Fairway
Management.
Riverbend Estates is located approximately 45 miles southwest of
St. Louis and will feature onsite management, a community room,
fitness center and computer center, among other amenities. Nearby
conveniences include transportation services, restaurants, banks,
shopping and Mercy Regional Hospital. Within two miles of the
property is historic Downtown Washington, which features local
businesses and restaurants.
Since 2005, United Healthcare has invested nearly $34 million in
equity to help build 21 affordable-housing communities for seniors
and families in Missouri. This investment has helped provide 843
homes for families and seniors statewide.
“UnitedHealthcare’s investment to support affordable-housing in
Missouri is helping connect people to housing, health care and
other important services that will enable them to live healthier
lives,” said Kurt Heumann, CEO, UnitedHealthcare Medicare &
Retirement in Missouri. “We are grateful for the opportunity to
build stronger communities, particularly for seniors, here in our
state.”
Through its Affordable Housing Investment Program,
UnitedHealthcare has provided more than $350 million in financing
for 56 housing development projects in 14 states, creating more
than 2,700 affordable homes for individuals and families, including
seniors, military veterans, people living with disabilities and
those struggling with homelessness.
About UnitedHealthcare
UnitedHealthcare is dedicated to helping people nationwide live
healthier lives by simplifying the health care experience, meeting
consumer health and wellness needs, and sustaining trusted
relationships with care providers. The company offers the full
spectrum of health benefit programs for individuals, employers,
military service members, retirees and their families, and Medicare
and Medicaid beneficiaries, and contracts directly with more than 1
million physicians and care professionals, and 6,000 hospitals and
other care facilities nationwide. UnitedHealthcare is one of the
businesses of UnitedHealth Group (NYSE:UNH), a diversified Fortune
50 health and well-being company. For more information, visit
UnitedHealthcare at www.uhc.com or follow @myUHC on Twitter.
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UnitedHealthcareLynne High, 952-979-5861lynne_m_high@uhc.com
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