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$22 Million UnitedHealth Group Investment Helps Fund Three New Affordable-Housing Communities In New Mexico

Community leaders and project partners are celebrating the official grand opening of two rental housing developments in Santa Fe and Las Cruces this week.

The new residential communities, along with an additional housing development in Deming, were made possible by a $22 million investment by UnitedHealth Group (NYSE: UNH) through a partnership with Enterprise Community Investment, Inc. (Enterprise). The collaboration brought together one of the nation’s top health and well-being companies and one of the nation’s leading advocates for affordable housing to provide critical equity to build the developments through Low Income Housing Tax Credits (LIHTC).

The three New Mexico projects – Stage Coach Apartments in Santa Fe, Robledo Ridge Apartments in Las Cruces and Mountain View Apartments in Deming – are creating an additional 179 affordable-housing units. Each provides housing opportunities and onsite social services for low-income families, seniors, and people with special needs and who are at risk of becoming homeless. The developments also created nearly 300 construction and permanent jobs in the state.

“These new housing developments are models of how business and community partners are working together with government agencies to help improve the lives of New Mexico families,” said New Mexico Gov. Susana Martinez. “The investment by UnitedHealth Group through its innovative partnership with Enterprise is an excellent example of a company investing locally to strengthen the communities they serve.”

Stage Coach, developed by The Housing Trust, is an award-winning, LEED Platinum, 60-unit affordable-housing community designed to accommodate people with special needs, people who are hearing impaired, and families transitioning out of homelessness or earning 30 percent to 60 percent of the average median income.

The new development offers residents a community building with kitchen, computer lab, after-school programs center, and an onsite services coordinator who will work with local nonprofit organizations to offer free health screenings, financial assistance and workforce training. Other amenities include community gardens, play areas, a fitness course, expansive open spaces and walking paths.

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