Ravenswood Family Health Center (2015)

Palo Alto, CA

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NMTC Amount: $37,534,000

Est. Total Project Cost: $38,900,000

COMMUNITY IMPACT

Established in 2000, Ravenswood served about 12,900 patients per year out of modular buildings with limited space and services. The new center will nearly double Ravenswood’s patient capacity. It includes 58 exam rooms and 13 behavioral health counseling rooms as well as laboratory, imaging and mammography services, optometry exams and a pharmacy.

PCDC invested $7.5 million in new markets tax credits (NMTC) and $850,000 in bridge loan financing to help build the new 38,000 square-foot facility. The Opportunity Fund provided $20.5 million in NMTCs and Low Income Investment Fund (LIIF) provided $11.5 million in NMTCs as well as additional bridge loan financing. The project attracted numerous grants and donations, including $5 million from Facebook CEO Mark Zuckerberg and his wife Priscilla Chan.

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