Affordable Housing and Tax Credit Developments Nationally$50 Million to Finance Affordable Housing Developments

February 3, 2012by George Danneman

UnitedHealth Group announced it has partnered with Enterprise Community Investment to provide as much as $50 million to finance affordable housing developments in targeted communities in New Mexico.

Called the UnitedHealth Group Affordable Housing Investment Program, the partnership will invest in developments that qualify for federal LIHTC or historic tax credits, with a focus on serving low-income families, households with special needs and the growing elderly population.

The first three properties being funded through the program, are Stage Coach Apartments in Santa Fe, Mountain View Apartments in Deming, and Robledo Ridge Apartments in Las Cruces. The three developments represent a $22 million investment in the state, the creation of 300 jobs and the addition of 180 affordable housing units.

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