Ochsner Baptist Medical Center

New Markets Tax Credit Coalition

New Orleans,
LA
(2007)

Ochsner Baptist Medical Center

Adult Daycare, Community, Disaster Recovery, Healthcare, Hospitals and Emergency Services, Katrina, Nursing Homes and Hospice

NMTC financing was structured as operational capacity to expand and re-open more than one million sq. ft. of medical services space including: 100-bed surgical hospital, a senior living facility for 250 residents, outpatient imaging center, a radiation center and medical offices.

Investment

NMTC Amount: $25,000,000
Total Project Cost: $120,000,000

IMPACT

1,073 FTE jobs
151,805 patients served
1,000,000 sq. ft. of real estate

CDEs

Capital One, Enhanced Capital, National New Markets Fund

Investor

Capital One

Project Description

Prior to Hurricane Katrina, Ochsner Baptist Medical Center (formerly Memorial Medical) treated more uninsured patients than any other private hospital in the region. NNMF’s NMTC financing (two other allocatees invested) was structured as operational capacity to expand and re-open more than one million sq. ft. of medical services space including: 100-bed surgical hospital, a senior living facility for 250 residents, outpatient imaging center, a radiation center and medical offices. The project is bringing much-needed health services and jobs back to New Orleans.

MAP

Address: 2700 Napoleon Avenue, New Orleans, LA 70121

Census Tract: 22071011100

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