New Markets Tax Credit Coalition

Morris Heights Health Center

The Morris Heights Health Center has been caring for low-income residents of the Bronx for nearly three decades.

Investment

  • NMTC Amount: $10,000,000
  • Total Project Cost: $22,672,000

IMPACT

  • 50 FTE jobs
  • 232 construction jobs
  • 80,000 patients served
  • Project includes a Federally Qualified Health Center.
  • 38,000 sq. ft. of real estate

Investor

Project Description

The Morris Heights Health Center (MHHC) has been caring for low-income residents of the Bronx for nearly three decades. Thanks to a NMTC investment, MHHC was able to expand its facilities, provide care to 30,000 more individuals each year, and add new services, including physical therapy, mammography, orthopedics and cardiology, that the community desperately needs. MHHC’s Harrison Circle Building, to be completed in 2010, now houses more than 38,000 sq. ft. of medical and administrative office space, a pharmacy and additional parking. The Harrison Circle Building is being financed with NMTC equity for the commercial portion, and Low-Income Housing Tax Credit equity to build 70 rental homes for seniors in the development. The NMTC and the LIHTC financing have been funded into two different transactions as the IRS prohibits them to be funded into one legal entity.

MAP

Address: 85 West Burnside Avenue, Bronx, NY 10453

Census Tract: 36005025100

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The Morris Heights Health Center has been caring for low-income residents of the Bronx for nearly three decades.