CVS Health invests $16.7M to build affordable housing complex in Galleria area for seniors

Photo courtesy: CVS Health (KPRC)

HOUSTON – A new apartment complex that will feature affordable housing units for seniors is coming to the Galleria area.

CVS Health announced it will invest $16.7 million with Hunt Capital Partners and Texas Inter-Faith Housing to build Westheimer Garden Villas.

The two four-story, midrise, elevator-serviced buildings will feature 82 affordable housing units and three market-rate housing units for older adults, age 55 and over. Each unit will offer wood plank vinyl flooring, nine-foot-high ceilings, washer and dryer connections, LED light fixtures, Energy Star-qualified kitchen appliances, and premium countertops.

A quarter of Houstonians are having trouble paying their rent and mortgages, according to a 2022 Kinder Houston area study. Investment in the apartment community supports the company’s commitment to advance health equity by addressing social determinants of health.

“Affordable housing is inextricably linked to health and when people have stable access to safe and affordable housing, it positions them to improve their overall wellbeing – medically, financially, and emotionally, " said Stephanie Rogers, CEO of Aetna Better Health of Texas, a CVS Health company. “This is especially important for older adults, who often live on fixed incomes and feel the effects of the rising cost of living. That’s why we continue to find opportunities at the local level to address social determinants of health to help people live healthier lives.”

Texas Inter-Faith Housing Corporation, a non-profit developer, property manager and social services provider based in Houston, will develop Westheimer Garden Villas. Amenities will include a community room, fitness center, business center, pavilions and gazebos, a community garden and gated resident parking. Additionally, Texas Inter-Faith Housing Corporation will provide residents with transportation assistance and health and community support services to help them thrive.

Within the past three years, CVS Health has invested $18.1 million in Harris county affordable housing projects, which has provided 330 affordable housing units.

Construction of Westheimer Garden Villas is expected to be completed in Spring 2024. Upon completion, interested tenants can apply onsite.