Health Net Invests $2 Million in Stanislaus County Affordable Housing Projects
Health Net, a subsidiary of Centene Corporation (NYSE: CNC), has announced a $2 million investment over multiple years to support affordable housing initiatives through the Stanislaus Equity Partners, Inc. (STEP). The funding will provide flexible gap financing for 50 shovel-ready projects in Stanislaus County, California, aiming to address local housing shortages and reduce displacement risks. The initiative is designed to leverage additional public and private resources by prioritizing developments that are ready but lack sufficient capital. Health Net emphasizes the connection between stable housing and health outcomes, stating that safe homes provide a stronger foundation for long-term well-being. STEP will deploy funds through grants, forgivable loans, and low-interest loans. According to local officials and partners like Assemblymember Juan Alanis, this investment reflects how healthcare organizations can contribute to community resilience by addressing social determinants of health such as housing insecurity.
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Topics: affordable housing community development investment Medi-Cal