DENVER, CO – CVS Health announced it will invest $6.5 million with Boston Financial Investment Management to build a 36-unit permanent supportive housing community, known as Charity’s House Place, for individuals experiencing homelessness and people with physical, intellectual, and/or developmental disabilities in the Five Points neighborhood in Denver. The investment is part of CVS Health’s commitment to advancing health equity and addressing social determinants of health in underserved communities.
“Our commitment to advancing health equity is grounded in our company purpose to bring our heart to every moment of health,” said David Casey, Senior Vice President and Chief Diversity Officer, CVS Health. “By addressing social determinants of health at the community level, like we are in Denver, we’re helping people live healthier and making positive change all around them.”
According to the National Community Reinvestment Coalition’s 2020 report, Denver ranked second as the most intensely gentrified cities. Five Points, a designated cultural historic district, in recognition of its vital role in African-American history is one of the neighborhoods most impacted. In addition, per the Metro Denver Homeless Initiative’s 2021 Point in Time Count, Black and African American individuals make up just over 5% of Metro Denver’s population, but represent more than 26% of people experiencing homelessness. Charity’s House Place will help preserve affordable housing in the Five Points neighborhood while providing residents with the resources they need to maintain stable housing and live healthier lives.
“It takes a whole community response, across sectors, to resolve homelessness and support our most vulnerable residents. That starts with the stability of safe, supportive housing,” said Denver Mayor Michael B. Hancock. “I want to thank CVS Health for making this critical investment in our community that will further bolster my Administration’s work by advancing equity and connecting our unhoused residents with the housing they need to thrive.”
CVS Health is working with BlueLine Development, Inc. and Community Outreach Service Center, Inc. (COSC) to co-develop Charity’s House Place. Led by Pastor Robert Woolfolk and his wife Eddie of Agape Christian Church, COSC has been deeply rooted in the Denver community for more than 20 years, helping people impacted by the justice system with transitional housing and counseling with the goal to ultimately have the ability to provide permanent supportive homes.
Through funding from the Colorado Department of Local Affairs, the Colorado Finance Agency and the City of Denvercombined with CVS Health’s investment, Charity’s House Place will be the realization of that goal. COSC will be providing residents with supportive goods and services, including food, clothing, employment support, spiritual counseling, and computer classes.
Charity’s House Place will consist of a four-tale residential building located at 3022 Welton Street in Denver. It will provide residents with a community room, fitness facility, on-site property management, central laundry facilities and outdoor decks. In addition to COSC services, the Mental Health Center of Denver will provide residents with an array of mental health, substance abuse and integrated health services.
“CVS Health is committed to providing underserved communities in Denver with opportunities that can help them live healthier lives,” said Jim Boyman, North Central Territory President and Heartland Market President, Aetna, a CVS Health company. “Through Charity’s House, we’re addressing housing insecurities and ensuring local residents have access to resources that can improve their overall health and well-being.”
CVS Health is also exploring opportunities to expand its national workforce initiatives program in Colorado to help break the cycle of poverty by providing employment services and training to the community.
As part of CVS Health’s overall commitment to advance health equity in America, it invested $185 million in affordable housing nationwide in 2021 and $1.3 billion over the past 20 years. Through these investments, CVS Health has been able to provide underserved communities with quality housing, economic support, educational training opportunities and other health and wellness programs and services based on the unique needs of the population.

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HOUSTON, TX – Asset Living, a Houston-based leader in the property management sector, has bought Echelon Property Group, a Denver-based firm that specializes in conventional market rate and affordable housing property management with an expertise in lease-up, build to rent, and value add renovation communities. With the addition of Echelon, Asset Living expands its geographical footprint with a new corporate office in Denver and over 13,000 new multi-family units in Colorado.
At Echelon, we built a culture that always place our people and clients first. We believe this makes stronger results for everyone and has led to our decades of success in the multi-family industry, said Echelon Property Group Principal Bryan Stern. I’m thrilled Echelon will be joining a company that is consistent with our corporate values and is one of the fastest-growing brands in the industry.
Founded with an entrepreneurial spirit that fosters a culture of personal growth, innovation, and accountability, Echelon s focused, hands-on philosophy is the optimal approach for maximizing asset values. By combining an owner s perspective, 25 years of local market knowledge, and the efficiency of a broad-based professional management platform, the team is uniquely qualified to deliver consistent performance and enhance clients asset values over the long term. The office in Denver serves as the Echelon Property Group headquarters and today the company has approximately 350 employees that will be joining Asset Living as full-time employees.
Echelon Property Group is a rapidly growing team comprised of individuals with an innate sense of leadership and drive, much like Asset Living’s current employee base, said President and Chief Executive Officer Ryan McGrath. We ve accelerated our growth strategy through a series of acquisitions over the last several months—demonstrating the confidence we have in our vision—and we’re just getting started. I look forward to working with Echelon’s talent as we forge more long-term success for clients and residents alike in 2022 and beyond.
This partnership will enhance Asset Living s multi-family portfolio, and the Echelon team now has access to an entirely new range of resources such as a wholly owned top-tier marketing agency, a dedicated new lease-up division, and capital to serve clients in new adjacent markets.
We re thrilled to start this new chapter with Asset Living – a company with a national footprint that enables us to reach a broader base of clients, said Echelon Property Group Principal Drake Powell. We are looking forward to providing more opportunities for our team members by operating under the highly-regarded Asset Living brand while continuing to provide best-in-class service to our existing and future clients.

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ATLANTA, GA – A revival project to restore a historical residential property and infuse more affordable living into Midtown Atlanta is underway. GBX Group, in partnership with developer Urban Landings, and preservation organization, Easements Atlanta, announced the beginning of work to rehabilitate the 90-year-ancient Winnwood Apartments property at 1460 W Peachtree Street NW, Atlanta.
When completed, the refurbished property will feature nearly 50 micro and one-bedroom units with modern amenities, all within a few miles of the Midtown city center.
“The restoration and repositioning are an exciting proposition for us as well as the Midtown neighborhood,” said Cameron Pimm, Urban Landings Chief Operating Officer. “Not only does this fit with our corporate vision of breathing new life into well-located and underappreciated assets, but it provides quality housing at an achievable price point for the ever-expanding workforce. Importantly, the preservation of Winnwood would not have been financially possible without the incorporation of historic tax incentives.”
A 1931 build by once-prominent local firm H.W. Nicholes and Sons, the complex features a two-tale brick Georgian Revival-style building and courtyard in the garden style, a multi-family residential design type synonymous with early-to-mid-20th century architecture. It is one of the last of this style in Atlanta.
Urban Landings sought and earned a spot for the property on the National Register of Historic Places in 2021, enabling access to historic tax credits that helped make the rehabilitation project financially viable. Simultaneously, the ownership group donated a facade easement to Easements Atlanta, a go that permanently protects Winnwood’s exterior design and makes the project eligible for additional tax incentives.
Easements Atlanta was excited to accept the donation, another in a long line of projects in which they’ve helped in protecting the building blocks of Atlanta’s history.
“Properties such as the Winnwood Apartments offer a deep connection to our City’s tale,” said Ian Michael Rogers, President of Easements Atlanta. “Preservation easements are one of the most vital tools available for balancing preservation and development, ensuring that Atlanta’s architectural, historic, and cultural resources are protected for future generations to delight in. We’re thrilled to be partnering with Urban Landings, GBX Group, the Atlanta Preservation Center, and other partners to ensure the perpetual stewardship of this significant property.” Antonin Robert, President of Community Development at GBX Group added, “Tools like the Historic Preservation Easements as well as Historic Tax Credits are critical in preserving and rehabilitating challenging projects like Winnwood Apartments. A stronger Georgia Historic Tax Credit program would further support and make more projects like this one possible in a city that is quickly losing many of its vital historic structures.”
GBX CEO, Drew Sparacia, whose firm partnered with Urban Landings to help build the capital stack that made the project possible, called the initiative a win-win for all involved.
“Today’s climate favors new construction,” he said. “On the surface, it may make better financial sense. But, as a result, the historic properties that occupy valuable real estate, particularly those in urban areas, are often demolished in the name of progress.”
Sparacia continued, “And that’s a shame. Those buildings, many with rich architecture and ties to their local communities, offer untold economic and socioeconomic potential for all community stakeholders if rehabbed correctly. We’ve seen it time and time again across the country. And we’re confident that we’ll see it with this project for the Midtown Atlanta area.”

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