WOONSOCKET, R.I. – CVS Health has joined The Diocesan Housing Services Corporation (DHSC) of the Diocese of Camden, The Walters Group, The United States Department of Housing and Urban Development (HUD), the New Jersey Housing and Mortgage Finance Agency (NJHMFA), and community leaders to celebrate the grand opening and building dedication of The Mews at St. Mary, a new 75-unit senior affordable housing property located in Williamstown, New Jersey.
DHSC Executive Director Jamie Reynolds stated, "We are so excited to be able work with our many partners and Our Lady of Peace Parish to re-purpose surplus church property to meet the affordable housing needs of older adults. Blessed Saint Teresa of Calcutta once said, 'Love Begins at Home' and we remain mindful that first and foremost we are creating warm and safe spaces for our residents to call home."
Made possible through the development partnership between DHSC and Walters, together with CVS Health's $9 million investment through R4 Capital, $8 million in HUD 202 Capital Advance funding, $14 million in NJHMFA construction financing and $7 million from NJHMFA's Affordable Housing Production Fund, the Mews at St. Mary reflects a shared vision of creating sustainable housing for older adults and builds on CVS Health's long‑standing commitment to creating healthier communities across New Jersey.
"Access to stable, affordable housing is a key driver of health, particularly for older adults," said Joseph Manger, Chief Executive Officer, Aetna Better Health of New Jersey, a CVS Health company. "Through our investment in Mews at St. Mary and collaboration with developers and service providers who put their communities first, we are helping expand affordable housing options in New Jersey and ensuring residents have the resources they need to live safely, independently, and with dignity."
Offering 75 affordable homes serving older adults, Mews at St. Mary will enable its residents to thrive by offering personalized medical, social, and wellness services and support including:
- On‑site wellness nurses staffed by Vitality Catholic Healthcare Services.
- Health education, prevention, and screenings offered by DHSC service coordinators, as well as mental health and social‑emotional support through counseling services from Catholic Charities Diocese of Camden.
- Access to New Jersey's PACE Program through Inspira Health Network's InspiraLife program and assistance with activities of daily living through Managed Long-Term Services and Supports (MLTSS) and collaboration Our Lady of Peace Parish's parish nursing program.
- Quality‑of‑life support, including resident‑assessment‑driven programming, food insecurity interventions, township‑sponsored bus services, and basic needs assistance.
"We are extremely grateful for our partnership with the Diocesan Housing Services Corporation of the Diocese of Camden," said Joseph Del Duca, Principal with the Walters Group. "Together with our funding partners, we are proud to open this wonderful new community for local seniors. We look forward to continuing our collaboration with the Diocese to build quality housing for seniors who need it the most."
Sixty percent of New Jersey renters aged 65 and older are housing cost-burdened — spending more than 30% of their fixed incomes on housing — making senior affordable housing not just a need, but an urgent necessity. CVS Health's investment in Mews at St. Mary is the latest example of the company's on-going commitment to addressing housing insecurity throughout the state
To date, CVS Health has invested more than $40 million in affordable housing across New Jersey, helping to create, preserve and renovate nearly 2,500 affordable housing units. This includes the company's recent investment of over $12million in the new construction of Bayfront Promenade in Jersey City, New Jersey. Expected to be completed in the next two years, the property will be home to 74 affordable units for families, alongside 136 market rate units, and is the first phase of a major redevelopment of a former industrial site along the Hackensack River, known as the Bayfront Master Plan.
Additionally, Aetna Better Health of New Jersey, a CVS Health company, is participating in a collaboration with the State of New Jersey to develop a network of providers addressing housing insecurity as part of the NJ FamilyCare Housing Supports program. The initiative, led by the Division of Medical Assistance and Health Services (DMAHS), aims to address the critical need for safe, healthy and affordable housing for under-resourced New Jersey residents.
CVS Health's holistic approach to improving individual and community health outcomes throughout New Jersey extends beyond its housing initiatives. In fiscal year 2024, CVS Health's operations generated an estimated $12.5 billion in economic impact in New Jersey, supporting more than 39,000 jobs statewide through direct employment, supply chain activity, and related economic effects. The company also supported approximately $882.1 billion in state and local taxes, helping fund essential public services and infrastructure. In 2024, CVS Health also delivered $10.2 million in community support, complemented by colleagues dedicating over 1,500 volunteer hours.
