PCDC-Financed Integrated Health Center Opening in Brooklyn

Categories: Client Spotlight, Investment

Next year, the Institute for Community Living (ICL) will open the doors to its new integrated health center in East New York — just over two years after PCDC helped finance the project.

The center boasts 44,600 square feet of space and will be able to serve 9,700 patients, a 250 percent increase from ICL’s previous location.

David Woodlock, President and CEO of ICL

PCDC provided $12.5 million in New Markets Tax Credits (NMTC) financing to ICL in 2016, joining Corporation for Supportive Housing (CSH), U.S. Bancorp Community Development Corporation (USBCDC), and Deutsche Bank’s Community Development Finance Group on the nearly $30 million initiative.

Traditionally a behavioral health center, ICL partnered with Community Healthcare Network — a federally qualified health center — for this innovative new facility. In addition to ICL’s ongoing work surrounding therapy, rehabilitation, and transitional housing, Community Healthcare Network will be able to provide outpatient support, primary care services, and coordinated care. Together they will operate out of the same building, allowing them to holistically meet the complex and interrelated needs of their patients.

ICL’s expanded center will bring valuable amenities to its community of East New York, where a third of the area’s residents live below the poverty line and a quarter are not covered by insurance. Furthermore, psychiatric and drug-and-alcohol-related hospitalizations in East New York far outpace rates in the rest of Brooklyn.  ICL’s larger behavioral health facility will help address the underlying causes of these preventable hospital stays.

“PCDC has repeatedly proved that it has the commitment and the expertise to substantially support community behavioral health providers to improve health care delivery in underserved communities,” said David Woodlock, President and CEO of ICL.

“All of us at PCDC congratulate ICL on the upcoming opening of their visionary community hub,” said Anne DyjakPCDC Managing Director. “We are proud to be a financing partner for this important project and to help improve access to primary care in East New York.”

Shah Capital Advisors, Inc. was the New Markets Tax Credit financing consultant for ICL. In 2015, Brooklyn Borough President Eric L. Adams and Councilmember Rafael Espinal originally supported ICL’s East New York Hub project with $750,000 in Capital Funding.