Charter Oak Health Center, Hartford, CT
PROJECT OVERVIEW
This $18 million project transformed more than 80,000 square feet into expanded clinical and administrative space for Charter Oak Health Center. Located in one of Hartford’s lowest-income neighborhoods, this five-building acquisition and development project included an expansion of the health center’s existing 2.5-floor operation to all 5 floors of the organization’s flagship building at 21 Grand Street. This expansion effort created separate areas for pediatrics, women’s health, an optical center; and mammography, bone density and radiology facilities. A nutrition education center, complete with demonstration kitchen, and an on-site pharmacy were added to the first floor. The overall project leveraged an $8 million allocation of New Markets Tax Credits from NCB Capital Impact to raise $2.26 million in NMTC equity from Chase Community Equity, LLC. In addition to the five buildings, the funding also helped Charter Oak purchase a new mobile medical van.
PROJECT SPONSOR
Charter Oak Health Center, Inc.
AFFIRMATIVE INVESTMENTS' ROLE
Financial Consultant
DEVELOPMENT PROGRAM
Acquisition and renovation of five buildings and purchase of a new mobile medical van.
TOTAL DEVELOPMENT COST
$18 million
OPENING DATE
October 2011
