Health Net Invests $550K in 37-Unit Affordable Housing in South Los Angeles
Centene's Health Net unit invested $550K to advance construction of a 37-unit 100% affordable housing development in South Los Angeles, and has committed $93M to housing and homelessness initiatives since 2020. Eleos will develop and operate the project, with completion expected by late 2027, underscoring Centene’s community health investments.
1. Project Details
Eleos and Health Net broke ground at 5637 S. Broadway on a 37-unit, 100% income-restricted housing community aimed at low-income households in South Los Angeles. The privately financed project closes the gap without market-rate units, ensuring long-term stability for families priced out of the area.
2. Health Net Investment
Health Net contributed $550K to finalize funding for this development, part of its broader $93M commitment to California housing and homelessness efforts since 2020. The grant aligns housing stability with improved health outcomes by reducing cost barriers and supporting at-risk populations.
3. Construction and Timeline
The development secured entitlements and permits in nine months via the city’s streamlined approval pathway. Construction is underway with projected completion in summer or fall 2027, and Eleos will oversee both development and ongoing property operations.