Memphis, TN (2013)

The MED

Investment

  • NMTC Amount: $26,550,000
  • Total Project Cost: $53,399,237

IMPACT

  • 132 FTE jobs
  • 200 construction jobs
  • 148,000 patients served
  • 82000 sq. ft. of medical space renovated
  • 82,000 sq. ft. of real estate

Investor

An 82,000 square foot renovation of existing space for a regional medical center.

Project Description

The Regional Medical Center of Memphis (The MED) underwent an 82,000 sq. ft. renovation of existing space thanks to NMTC financing from NDC, River Gorge Capital, Community Hospitality Healthcare Services, and Truist. The renovation of The MED’s Turner Tower created a new Outpatient Ambulatory Surgery Unit shifting current volume from the main operating room, to allow for an additional 1,400 surgeries in the five years following project completion.

The MED, chartered in 1829, is a nonprofit hospital that provides accessible and quality healthcare for roughly 148,000 low-income patients each year. The MED also contains the only Level 1 trauma center throughout a five state region that receives over 4,500 admissions annually. The NMTC equity generated for the project also lessened the financial burden on the nonprofit hospital allowing them to put additional resources toward future facility improvements.

MAP

877 Jefferson Avenue, Memphis, TN 38103

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