WASHINGTON, Mo. — UnitedHealthcare has invested $2.3 million in Riverbend Estates Senior Community, a 42-unit affordable seniors housing development under construction in Washington, approximately 45 miles west of St. Louis.
UnitedHealthcare is making the investment in partnership with Affordable Equity Partners (AEP) through the use of low income housing tax credits (LIHTC), which were approved by the Missouri Housing Development Commission (MHDC).
MOCAP Development is developing the community, which Fairway Management will manage.
Since 2005, United Healthcare has invested nearly $34 million in equity to help build 21 affordable communities for seniors and families in Missouri totaling 843 units.
Through its Affordable Housing Investment Program, UnitedHealthcare has provided more than $350 million in financing for 56 housing development projects in 14 states, creating more than 2,700 affordable homes for individuals and families, including seniors, military veterans, people living with disabilities and those struggling with homelessness.