UnitedHealthcare and U.S. Bank joined the City of Clarksville, The Vantage Group, community leaders, project partners and new residents Thursday to celebrate the opening of Vinings at Greencastle Apartments.
The 80-unit housing complex is said to be a first-of-its-kind development for seniors in Clarksville that helps address a critical need for affordable housing in the area.
Vinings at Greencastle Apartments is designed to accommodate residents 55 years old and older, with 68 two-bedroom and 12 one-bedroom open-floor-plan units.
The residential complex offers residents amenities such as energy-efficient appliances, a community building, and onsite management and maintenance.
UnitedHealthcare provided $7.7 million in Low-Income Housing Tax Credit (LIHTC) equity for the $9.3 million project through a partnership with U.S. Bank subsidiary U.S. Bancorp Community Development Corporation.
U.S. Bank also provided a construction loan and a first mortgage for the benefit of the project. The City of Clarksville Office of Housing and Community Development provided the additional funding, with the Tennessee Housing Development Agency (THDA) approving the use of tax credits for the complex.
UnitedHealthcare, a UnitedHealth Group (NYSE: UNH) company, serves the health care needs of more than 1.1 million Tennesseans, including people enrolled in employer-sponsored plans, as well as Medicare and Medicaid beneficiaries.
UnitedHealthcare operates 12 offices and employs nearly 2,200 people statewide. U.S. Bank operates 110 branches and employs more than 1,800 people in Tennessee.