But rehabilitation work will soon begin to turn the structure into a 41-unit affordable housing complex.
The Arthur @ Blackstone is a partnership between Fresno Housing and CVS Health, which donated $18 million.
“It allows us to acquire the property and then move forward with development,” said Fresno Housing CEO Tyrone Williams.
Jeff Hermosillo is president of the California market for Aetna, part of CVS Health.
He says 20 of the apartments will be reserved for young people who are homeless or coming out of institutions.
“These are really young people at risk,” he said. “It’s really an area across the country and across the state where we have a lot of need.”
CVS has donated to other local housing projects. This complex would provide support services to residents.
“We continue to develop our health ads, which are opportunities or places where people can go and get different kinds of health services that are very accessible,” Hermosillo said.
Williams is excited to see how business partners like CVS can help reduce health disparities.
“They’ve really decided that Fresno is a place where they want to plant their flag and that Fresno Housing is the perfect partner to help them move forward,” he said.
Work should begin on The Arthur @ Blackstone before the summer.
Another affordable housing complex, the Monarch @ Chinatown, is under construction.
“Right now we’re anticipating completion in the fall of this year, and that’s going to add additional housing to Chinatown,” Williams said.
The four-storey complex will offer 57 additional apartments close to the city center.
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