On Thursday morning, Minnetonka-based UnitedHealth Group Inc. announced its investment of another $100 million to help build affordable housing across the U.S. This raises the company’s total investment in affordable housing to $500 million since 2011.
UnitedHealth is investing its $100 million in the Health & Housing Fund, a partnership with the Washington, D.C.-based Stewards of Affordable Housing for the Future (SAHF) and the Columbus, Ohio-based National Affordable Housing Trust (NAHT).
Since 2011, UnitedHealth has helped fund 80 new affordable housing projects providing 4,500 homes in 18 states.
To date, UnitedHealth has invested $41 million to help build eight housing projects with 357 units in Minnesota including developments in Minneapolis, Duluth, Red Lake Falls, Faribault and Ramsey.
“Working together with UnitedHealth Group, we are building on our commitment to developing and operating affordable homes across the country that support improved health and well-being,” said Andrea Ponsor, chief executive officer of SAHF, in a statement. “UnitedHealth Group’s leadership is demonstrating the importance of improving health outcomes through investments in quality, service-enriched housing.”
For 2019, UnitedHealth Group reported revenue of $242.2 billion and a net profit of $13.8 billion. The company is the seventh largest public company in the U.S. based on the latest Fortune 500 rankings.