CVS Health is helping the nonprofit UMOM New Day Centers by investing $12.4 million in an affordable housing development in south Phoenix.
UMOM, which helps provide housing and shelter for families, single women and youth experiencing homelessness, is developing Newsom Village, a 60-unit affordable housing village at 4020-4032 S. 9th St. in south Phoenix.
The community's two- and three-bedroom units will be offered at a reduced rent, according to a statement from CVS Health (NYSE: CVS).
Construction has started on the project, which is solely funded CVS Health and Aetna, and is scheduled to be complete by the end of the year, according to UMOM.
