UnitedHealth Group will invest $25 million for housing for veterans experiencing homelessness and low and middle-income individuals.
The grant will go to the Community Solutions Large Cities Housing Fund, a $135 million fund backed by Kaiser Permanente, Wells Fargo and other large donors. The fund directly acquires apartment units. Half of these units are reserved for individuals transitioning out of homelessness, including veterans, according to a July 24 news release.
The other half of the units are allocated to individuals or families earning around 80% of the median area income.
The fund will initially target investments in Charlotte, N.C., Denver, Jacksonville, Fla, Nashville, Tenn. and Phoenix.