Peach State Health Plan and Centene Foundation Announce Investment in Atlanta Housing Development at Groundbreaking Ceremony
Rhea-AI Summary
Peach State Health Plan and the Centene Foundation (NYSE: CNC) announced their participation in the groundbreaking ceremony for the Bowen Homes community redevelopment in Atlanta, Georgia. The project, in collaboration with Atlanta Housing and McCormack Baron Salazar (MBS), aims to create a health-focused community development.
The development will feature over 750 residential units along with recreational amenities including outdoor plazas, seating, and walking trails in the Carey Park neighborhood. The Centene Foundation's contribution includes below market-rate loans for predevelopment design, planning, and community engagement.
The initiative focuses on combining affordable housing with nutrition education, behavioral and physical health resources to improve healthcare access and address health disparities in the community. This development represents the Foundation's first state-level deployment of its partnership with MBS announced in 2024.
Positive
- Strategic expansion into healthcare-integrated housing development
- Partnership with established developer MBS enhances project credibility
- Below market-rate loan structure indicates favorable financing terms
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, CNC gained 1.95%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
The collaboration will renew the Bowen Homes community to provide access to quality housing, healthcare and community resources
The Centene Foundation's funding contribution is the first state-level deployment of the Foundation's partnership with MBS, as announced in 2024. Below market-rate loans support predevelopment design, planning work and local community engagement while unlocking additional financing needed to accelerate projects.
"Peach State Health Plan is committed to addressing drivers of health – and that starts with ensuring all Georgians have access to both quality housing and healthcare," said Clyde A. White, President of Peach State Health Plan. "Through our continued investment in Bowen Homes, we are creating real opportunities for families to thrive in a neighborhood designed with health, empowerment and resilience at its core."
The plan for the site will be community-focused with more than 750 residential units, and recreational amenities including outdoor plazas, seating, walking trails and more, along the Donald Lee Hollowell Parkway and James Jackson Parkway corridors in the Carey Park neighborhood.
"By combining affordable housing, nutrition education, and behavioral and physical health resources, we can actively improve the quality of life for Georgians," said Centene Foundation President Keith Williamson. "Centene Foundation's partnership with MBS allows us to address healthcare challenges head on – increasing healthcare access, closing long-term health disparities and improving health outcomes."
The Centene Foundation and Peach State Health Plan's commitment in the Bowen Homes project builds on its broader investments in creating positive local impact and commitment to fostering long-term health by actively working with the community to shape approaches, connecting residents to essential healthcare and social services, and addressing community needs and vital resources, such as education opportunities for nutrition, behavioral health and maternal care. These initiatives will support the overall well-being of residents, ensuring the community can flourish.
About Peach State Health Plan
Peach State Health Plan is a care management organization that serves the needs of Georgians through a range of health insurance solutions. Peach State Health Plan serves the Medicaid and PeachCare for Kids® population in partnership with Georgia Families. The organization also focuses on under-insured and uninsured individuals through its federal insurance marketplace plan, Ambetter, and its Medicare Advantage Special Needs Plan. Peach State Health Plan is a Centene company, a leading healthcare enterprise committed to helping people live healthier lives. For more information visit www.pshpgeorgia.com.
About Centene Foundation
The Centene Foundation (the "Foundation"), a private nonprofit focused on investing in economically challenged communities, is the philanthropic arm of Centene Corporation (NYSE:CNC) ("Centene"). The Foundation supports projects and initiatives strategically aligned with Centene's mission-driven culture and enhances the work Centene is doing to remove the barriers to wellness underserved and low-income populations face. The Foundation is committed to addressing social drivers of health and improving health equity in three distinct areas of focus: healthcare access, social services and education. To learn more, visit the Centene Foundation's website.
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SOURCE Peach State Health Plan
FAQ
How many residential units will the new Bowen Homes development in Atlanta include?
What is the role of Centene Foundation (CNC) in the Bowen Homes project?
What amenities will be included in the Bowen Homes community development?
How does the Bowen Homes project align with CNC's healthcare initiatives?
