INDIANAPOLIS — CVS Health announced a $10 million investment to help build a new affordable apartment complex on the near east side.
The permanent supportive housing community is called Saint Lucas Lofts and will have 48 units situated at New York and Rural streets.
The new investment is on top of the $2 million already announced by the city last November.
“Housing is one of the most important issues in our city today because it impacts virtually every other challenge we face, be it poverty, violence, education or access to health care,” said Indianapolis Mayor Joe Hogsett. “This represents over a quarter of our recent commitment of $7.8 million to build over 100 permanent supportive housing units in several projects across Indianapolis.”
LaMar Holliday knows first-hand the impact a project like this can have on families and young adults.
“For many people, homelessness is not a choice,” he said.
As a teen, Holliday and his mom found themselves without a home.
“It was just the perfect storm. We were living paycheck to paycheck. My mom was laid off. She tried to find work but it wasn’t in enough time, so we got that eviction letter,” he said.
Holliday is now a board member for Outreach Inc., the same organization that helped him when he was younger. For more than two decades, Outreach has served youth and young adults experiencing homelessness in Indianapolis.
“There’s nothing like home. There’s nothing like being able to go home and have your own space,” said Holliday.
That’s exactly what this new community hopes to create for the city. CVS believes housing directly affects health outcomes.
Residents at St. Lucas Lofts will also receive wraparound services, including educational opportunities, employment resources and training.
They will also be able to access Outreach Inc.’s drop-in center a few blocks away.
“Permanent supportive housing aims to fill in the gaps, so it’s not just providing a home, but also providing those other services to really put you on your path towards your best health,” said Keli Savage, head of impact investment strategy for CVS Health.
“We know that investing in places where folks can start paying a lot less of their total income on rent allows them to focus on healthcare, focus on better food, better prescription adherence and being able to go to the doctor more often," she added.
CVS Health has invested $19 million to support affordable housing in the state, with $14.7 million invested in the past two years.