Community capital of Preston Hollow joins urban health plan for groundbreaking Bronx Community Health Center –
DALLAS–(BUSINESS WIRE)–April 7, 2022 – Based in Dallas Preston Hollow Community Capital (PHCC)a provider of specialized impact financing solutions for projects of social and economic importance to local communities, joined Urban Health Plan, Inc. (UHP) to celebrate April 1st groundbreaking ceremony for its community health facility located at 1095 Boulevard Sud. The state-of-the-art facility is scheduled to open in the spring of 2024 and will serve residents of the Hunts Point/Longwood community. UHP provides affordable, high-quality medical, behavioral health, and oral health services to medically underserved communities in the Bronx, Queens, and Manhattan.
“Today’s groundbreaking represents an important milestone for Urban Health Plan and for our community,” said Paloma Hernandez, President and CEO of Urban Health Plan. “48 years ago today, our first store opened just opposite. This new health center represents a huge step forward in improving community access to primary care, essential specialty care services and innovative disease prevention programs. We thank everyone involved for their support and unwavering commitment to this important project that will help us pursue our mission to improve the overall health and quality of life of every patient.
In his remarks at the groundbreaking ceremony, Jim Thompson, CEO and President of PHCC, said, “This was a complex financing transaction, but it was a labor of love. This would not have happened without the support and cooperation of the various national and local government agencies involved.
Among those attending the event were New York City Council member Rafael Salamanca; Ann Williams Isom, Deputy Mayor of New York City Health and Human Services; Bronx Borough President Vanessa Gibson; Reuben McDaniel III, President and CEO, New York State Dormitory Authority; Luis Sepulveda, state senator; Andrew Kimball, CEO, New York City Economic Development Corporation; Assembly Member Kenny Burgos; and Ann May Hoyte-Nelson, New York State Department of Health.
PHCC financed the project through a $60.9 million tax-exempt bond transaction issued by the New York State Dormitory Authority. The transaction also includes a capital grant of $20.3 million provided by Council Member Rafael Salamanca, Council 17th District, The Bronx and a second capital grant of $4.5 million provided by the Department of New York State Health.
UHP is a federally licensed community health center with a network of 12 health centers, two outpatient mental health sites, 12 school health centers and two part-time facilities. UHP was founded in 1974 by Dr. Richard Izquierdo, a local physician, and provides care to patients regardless of their ability to pay. UHP provides comprehensive and affordable primary and specialty health care services to all of the communities it serves. In 2021, the UHP ensured nearly 400,000 visits for 80,000 patients.
About Preston Hollow Community Capital
Preston Hollow Community Capital provides specialized impact financing solutions for projects of significant social and economic importance to local communities across the United States. As a team, we bring decades of experience to help communities achieve their financial, sustainability, and community impact goals. We do this through a unique partnership model, rigorous and disciplined credit underwriting, and creative investment structuring designed to provide certainty and flexibility for our borrowers.
Robin West, Urban Health Plan
Max Pickle, Community Capital of Preston Hollow