$4.2 million – ArchCare Senior Life – East Harlem, NY
With PCDC financing, ArchCare Senior Life, a managed long term care program that provides medical care to frail and under-served populations, opened its first PACE (Program of All-inclusive Care for the Elderly) Center in Central and East Harlem in November 2009.
PCDC provided $4.2 million in long-term financing and a $200,000 grant for the project. The 14,000 square foot center on Fifth Avenue between 117th and 118th Streets will provide comprehensive primary care services, and is part of a broader program that provides well-coordinated, acute and long-term care services at a cost that is lower than nursing homes. The program is paid for by Medicare and Medicaid and is intended to provide care for individuals who are eligible for nursing home care, but prefer to remain at home for as long as possible. About 2,500 Medicaid-eligible seniors who could qualify for nursing home care currently live in the area.