Story: A.G. Rhodes
A.G. Rhodes is Georgia’s oldest nonprofit provider of skilled nursing, largely serving low-income seniors, providing memory care focused treatment and accepts both Medicare and Medicaid.
Broadstreet committed $6 million of LISC’s New Markets Tax Credit allocation, with Capital One as the investor, for extensive renovations to A.G. Rhodes’ existing three-story, 55,000-square-foot skilled nursing facility in Marietta, GA. The project also includes the construction of a new 75,000 SF, three-story memory care wing designed to be a model for best practices in person-directed memory care. The plan will allow A.G. Rhodes to expand its services, offering long-term care, short-term care, home health care to 500 seniors, as well as support other health partnerships.
LISC’s $6M in allocation will be combined with $26.5M in allocation from Enterprise ($12M), Rose Urban Green Fund ($8.5M), and Reinvestment Fund ($6M) for a total of $32.5M in allocation.
- $6M Broadstreet NMTC Allocation
- 38 Projected Permanent Jobs Created
- 500 Projected Unique Patients Served Annually
Memory care is oftentimes cost-prohibitive for low-income seniors. Of the 55 skilled nursing facilities within 25 miles of A.G. Rhodes, only five are nonprofit-operated; most cost more than $10,000/month and do not accept Medicaid. This project helps fill part of that gap, increasing A.G. Rhodes existing capacity by 25 percent, offering affordable care, and accepting both Medicare and Medicaid.
The new wing will have 72 private memory care beds organized into 6 “households” that have 12 resident rooms, a residential-scale kitchen and dining area, a living room and sunroom, and laundry facilities. Research shows the benefits of these models in lowering patient loneliness and improving health outcomes, A.G. Rhodes is one of just two skilled nursing facilities in the area that use a person-directed care model and will be the first to adopt a household model.
It will also help preserve 167 jobs and create 38 new positions, all of which pay a living wage and most of which do not require a college degree.