- $35 million investment helps build four
new communities in Michigan, bringing 236 new homes to individuals
and families in need of affordable housing
- UnitedHealthcare employees celebrate
grand opening of new community in Ypsilanti, donating welcome
baskets filled with healthy foods and household supplies to newly
moved-in residents
An affordable-housing initiative by UnitedHealthcare is helping
connect Michigan residents to quality housing and support services
to help them live healthier lives.
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Community leaders, project partners,
housing advocates and residents celebrate the grand opening of New
Parkridge, a new affordable-housing community in Ypsilanti. L-R:
Resident Janea Davis and daughter Martasia D. (11); James M. Smith,
President, Eastern Michigan University; Jim Logue, COO, Cinnaire;
Reneé Smith, chair, Ypsilanti Housing Commission; Zachary Fosler,
executive director, Ypsilanti Housing Commission; Beverly
Washington James and son Raphael Washington; Dennis Moura, CEO,
UnitedHealthcare Community Plan of Michigan; Earl Poleski,
executive director, MSDHA (Photo: Nick Azzaro).
UnitedHealthcare joined community leaders, project partners,
housing advocates and residents today at the grand opening of New
Parkridge, one of four new affordable-housing communities in
Michigan in which UnitedHealthcare has invested a combined total of
$35 million to improve access to affordable housing for individuals
and families with the greatest needs.
According to the Robert Wood Johnson Foundation Commission on
Health, the affordability of housing has clear implications for
health. The shortage of affordable housing limits people’s choices
about where they live, often relegating lower-income families to
substandard housing in unsafe, overcrowded neighborhoods with
higher rates of poverty and fewer resources for healthy outdoor and
exercise activities. The financial burden of unaffordable housing
can prevent families from meeting other basic needs including
nutrition and health care, and is particularly significant for
low-income families.
“Access to safe, quality, affordable housing and local support
services such as health care, job training and education are
critical to helping people enhance their well-being and quality of
life,” said Dennis Mouras, CEO, UnitedHealthcare Community Plan of
Michigan, which employs nearly 1,000 people in the state and serves
the health care needs of 850,000 Michigan residents.
Since 2011, UnitedHealthcare has provided more than $350 million
in equity to help finance and build 56 affordable-housing
communities in 14 states, creating more than 2,700 new homes for
people in need of affordable housing and support services to help
enhance their well-being and quality of life.
In Michigan, UnitedHealthcare partnered with Cinnaire and
Minnesota Equity Fund (MEF) to invest $35 million in affordable
housing utilizing Low Income Housing Tax Credits approved by the
Michigan State Housing Development Authority (MSHDA). Cinnaire and
MEF support community stabilization and economic development
through partnerships with investors and mission-focused
organizations through the use of federal tax credits and by
providing creative loans, investments and best-in-class services to
partners.
“Cinnaire and MEF partner with leading socially motivated
companies like UnitedHealthcare to make economic investments in
well-designed, high-quality affordable-housing developments,” said
Mark McDaniel, president and CEO of Cinnaire. “These investments
help meet a critical need in Michigan to provide quality, permanent
housing with support services to people in need. We appreciate the
commitment UnitedHealthcare has made to investing in affordable
housing and creating healthy, vibrant communities.”
The investments made by UnitedHealthcare in Michigan will result
in 236 new homes and include:
- $8 million for New Parkridge in
Ypsilanti, with 86 new apartments and townhomes;
- $14.6 million for Jefferson Oaks in Oak
Park, which will provide 60 new homes when completed this
year;
- $3.7 million for Woodland Place
Apartments in Hart, which will be completed this year and
provide 24 new homes, half dedicated to people living with
special needs and struggling with homelessness; and
- $8.5 million for Prestwick Village in
Holt, which opened in June 2017 with 66 new homes.
“MEF and Cinnaire are proud to work with UnitedHealthcare in
supporting these communities in Michigan,” said Warren Hanson, MEF
president and CEO. “Our partnership is helping to meet a critical
need for affordable housing in communities throughout the
state.”
New Parkridge, developed by the Ypsilanti Housing Commission and
Chesapeake Community Advisors, includes 86 duplexes, townhouses and
apartments with a mix of one-, two- and three-bedroom homes. The
community incorporates “new urbanism” design concepts that feature
street-facing residences with porches, sidewalks, driveways, yards,
a playground and space for a community garden.
A large community building includes an activity room, kitchen,
computer lab and offices for social workers and property
management. On-site support services are available to all
residents, providing greater access to health care, education, job
training, childcare and other services.
During today’s ribbon-cutting ceremony, UnitedHealthcare
employees donated welcome baskets filled with household items and
healthy foods that were given to each of the new residents to help
welcome them into their new homes.
About CinnaireCinnaire is a full-service community
development financial partner that supports community stabilization
and economic development by developing and nurturing partnerships
with investors and mission-focused organizations. It provides
creative loans, investments, and best-in-class services to
partners. For more information visit www.cinnaire.com.
About Minnesota Equity FundMEF is a subsidiary of Greater
Minnesota Housing Fund (GMHF), a non-profit Community Development
Financial Institution. GMHF provides loans, equity investments,
grants and technical assistance to create affordable housing in
Minnesota. MEF provides equity investments in Minnesota and the
Great Lakes region. MEF is a strategic partnership between GMHF and
Cinnaire.
About UnitedHealthcareUnitedHealthcare 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 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 @UHC on Twitter.
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version on businesswire.com: http://www.businesswire.com/news/home/20180124006243/en/
Minnesota Equity FundJill Mazullo, 651-221-1997, ext.
124jmazullo@gmhf.comorCinnaireCorinne Hyzny,
302-300-4247chyzny@cinnaire.comorUnitedHealthcareLynne High,
952-979-5861lynne_m_high@uhc.com
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