Story: Bronx Community Health Network

The Sponsor

Bronx Community Health Network (BCHN) is a Federally Qualified Health Center that operates out of 18 Montefiore Medical Group clinics across the borough, serving approximately 100,000 patients annually. The BCHN partnership delivers health and wellness services to patients and offers community programming that connects residents to support for food insecurity, housing and jobs, among other needs. BCHN also supports school-based primary care, health screenings, immunization and other services for local children. More than 75 percent of patients have incomes below 200 percent of the federal poverty level.

The Project

BCHN is renovating an 11,000-square foot facility that it will operate independent of its Montefiore collaboration. The new facility will provide integrated medical, behavioral and oral health services, along with podiatry, pharmacy and other education and social supports. BCHN’s Community Health and Wellness program will be co-located at the center, with care coordination specialists helping patients navigate an array of complex health and human services programs ranging from child care to career training.

Broadstreet has committed nearly $2.7 million of equity from the PROPEL Fund, which is capitalized by Edwards Lifesciences, to support the project. Broadstreet is also investing a $520,000 short-term bridge loan to cover pre-incurred costs as well as half of a nearly $4.6 million loan (along with Capital Fund) to bridge project grants that are supporting the development.

The Impact

  • $2.7M Broadstreet NMTC Equity Investment
  • 27 Projected Permanent Jobs Created

The Impact

The Bronx includes some of the most impoverished communities in the country. In the communities that BCHN serves, poverty tops 25 percent, with unemployment rates of more than 19 percent. An estimated 30 percent of residents are in fair or poor health—nearly twice the statewide rate. Without the Broadstreet financing, BCHN would not be able to expand its health and community outreach services to an estimated 9,279 patients—most of whom are low-income and people of color. The capital is designed to be flexible and affordable in order to benefit a low-income community grappling with insufficient health services—which makes it difficult to address the impact of significant socioeconomic challenges, including high rates of premature death, without expanded outreach to residents.

The project will also create 27 new jobs, protect 32 existing BCHN jobs and add 18 construction jobs.