Stockton Seniors Gain Access to 76 Affordable Homes with Health Net's $3 Million Investment

Centene (CNC), through its Health Net Medi-Cal plan, is providing a $3 million grant to Mutual Housing California to support Fairview Terrace, an affordable housing community for income-qualified seniors in Stockton, announced on September 16, 2026.

Rhea-AI Summary

Centene (CNC), through its Health Net Medi-Cal plan, is providing a $3 million grant to Mutual Housing California to support Fairview Terrace, an affordable housing community for income-qualified seniors in Stockton, announced on September 16, 2026.

The project at 2222 S. Airport Way will offer 76 affordable homes for adults aged 55+ in households earning up to $58,380. The grant helps close a construction financing gap, supporting module setting in 2026 and anticipated completion in 2027. Fairview Terrace is part of Health Net’s broader community investments, including more than $284 million committed statewide over five years and $11 million directed to affordable housing initiatives in Sacramento and San Joaquin counties.

Market Context

On Sep 9, Health Net's $2 million Stanislaus County housing investment was followed by CNC's -0.77% ...

Analysis

On Sep 9, Health Net's $2 million Stanislaus County housing investment was followed by CNC's -0.77% 24-hour price reaction; the current $3 million grant represents a similar housing-focused initiative.

Key Figures

Health Net grant: $3 million Affordable homes: 76 homes Resident age: 55 and older +5 more

Health Net grant

$3 million

Fairview Terrace construction financing

Affordable homes

76 homes

Stockton community for income-qualified seniors

Resident age

55 and older

Eligible adults

Household income limit

$58,380

2026 CTCAC income limits

Module installation

2026

Target for setting all 76 home modules

Anticipated completion

2027

Fairview Terrace development

Community initiatives commitment

More than $284 million

Health Net commitment over the last five years

Regional investment

$11 million

Affordable housing and related initiatives in Sacramento and San Joaquin counties

Historical Context

1 past event · Latest: Sep 09

1 event

1. Sep 09

   Affordable housing grant

   24h Move

   -0.8%

   Health Net announced housing gap financing for 50 Stanislaus County projects

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

medi-cal, managed care

2 terms

medi-cal regulatory

"Health Net, one of California's most experienced Medi-Cal managed care health plans"

Medi‑Cal is California’s government-run health insurance program that pays for medical care for low-income individuals and families. It matters to investors because it acts like a very large customer with set payment rules and wide reach: changes in Medi‑Cal enrollment, reimbursement rates, or coverage rules can directly affect revenues and cash flow for hospitals, clinics, drugmakers and insurers that rely on its payments, much like a major client changing contract terms.

managed care medical

"one of California's most experienced Medi-Cal managed care health plans"

A system in which health insurers, networks, or administrators coordinate who provides care, which services are covered, and how much is paid, often using rules, provider networks, and price negotiations to control costs and quality. Think of it like a subscription service that directs where you go and what is paid for; investors care because it shapes how much hospitals, doctors, drugmakers and device makers can charge, how quickly they get paid, and how many patients they can reach.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Mutual Housing California's Fairview Terrace will help income-qualified older adults in San Joaquin County find stable, affordable housing and remain connected to the community they call home

STOCKTON, Calif., Sept. 16, 2026 /PRNewswire/ -- Health Net, one of California's most experienced Medi-Cal managed care health plans and company of Centene Corporation (NYSE: CNC), announced a $3 million grant to Mutual Housing California to support the development of Fairview Terrace, a new affordable housing community for income-qualified seniors in Stockton.

Located at 2222 S. Airport Way, Fairview Terrace will provide 76 affordable homes for adults aged 55 and older. The development will serve households earning up to $58,380, according to 2026 CTCAC income limits. By transforming a long-vacant parcel, Fairview Terrace help address the growing need for affordable housing for older adults in San Joaquin County.

"A safe, affordable place to call home can make a meaningful difference in a person's health and well-being, especially for older adults living on fixed incomes," said Amber Kemp, Vice President, Medi-Cal Strategy, Execution, and Engagement at Health Net. "Fairview Terrace represents more than housing. It offers Stockton seniors the stability, dignity and sense of community that help people stay healthy and connected. We're proud to partner with Mutual Housing California to create a welcoming place where residents can build relationships, access support and thrive for years to come."

The investment will help complete the project's construction financing, supporting the development as it looks to complete the setting of all 76 home modules at the site in 2026, with an anticipated completion planned for 2027. Health Net's grant helps close a funding gap and moves the project one step closer to completion.

"Fairview Terrace will expand housing options for older adults and help ensure more seniors can remain in the community they call home," said San Joaquin County Supervisor Mario Gardea. "This development reflects what can be accomplished when organizations come together around a shared goal, and we're grateful to Health Net and Mutual Housing California for investing in Stockton's future."

"Health Net's $3 million investment is helping turn an ambitious vision into 76 affordable homes for generations of Stockton seniors," said Craig Adelman, CEO of Mutual Housing California. "Having a partner investing in our work creating housing as an essential solution to better health is making the difference in getting healthy communities built. Fairview Terrace pairs that collaboration with an innovative construction approach that delivers these homes faster, giving older adults the stability and opportunity to remain connected to the community they call home."

Fairview Terrace is one of many community investments Health Net has supported throughout California to improve the conditions that shape health and wellbeing. Over the last five years, Health Net has committed more than $284 million to community-based initiatives that address social factors such as housing, food access and community health. Through these partnerships, Health Net continues to invest in solutions that help people build healthier, more stable lives.

In Sacramento and San Joaquin counties, Health Net has invested a combined $11 million in affordable housing and related initiatives, including:

• Sacramento County — $3 million: Green Means Go/Sacramento Area Council of Governments (SACOG), $2 million; and San Juan Apartments II/Mutual Housing, $1 million.
• San Joaquin County — $8 million: Fairview Terrace/Mutual Housing, $3 million; San Joaquin Affordable Housing Trust, $3 million; and Lodi Seniors at Salas Park, $2 million.

Through investments like Fairview Terrace, Health Net is helping expand affordable housing options for older adults and strengthen communities across the region.

About Health Net
Founded in California more than 45 years ago, Health Net, LLC ("Health Net"), a company of Centene Corporation, believes that every person deserves a safety net for their health, regardless of age, income, employment status or current state of health. Today, we provide health plans for individuals, families, businesses of every size and people who qualify for Medi-Cal or Medicare. With more than 117,000 of our network providers, Health Net serves more than three million members across the state. We also offer access to substance abuse programs, behavioral health services and managed healthcare products related to prescription drugs. We make these health plans and services available through Health Net and its subsidiaries: Health Net of California, Inc., Health Net Life Insurance Company and Health Net Community Solutions, Inc. These entities are wholly owned subsidiaries of Centene Corporation (NYSE: CNC), a leading healthcare enterprise committed to transforming the health of the communities we serve, one person at a time. Health Net and Centene Corporation employ more than 5,700 people in California who work at one of five regional Talent Hub offices. For more information, visit www.HealthNet.com.

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SOURCE Health Net, LLC