Story: Delaware Valley Community Health
- Date of Investment
- September 2024
- Broadstreet Commitment
- $1.56 million in NMTC
- Sponsor/Borrower
- Delaware Valley Community Health, Inc.
- Investor
- Thriving Communities Fund (TD Bank)
- Uses
- Multi-site renovation to support community health strategy
- Impact Objective
- Health services, economic development, living wage jobs in high-poverty community

The Sponsor
Delaware Valley Community Health, Inc. (DVCH) is a federally qualified health center (FQHC) providing medical, dental and behavioral health services for low-to-moderate income residents in Philadelphia and surrounding communities. It operates nine neighborhood locations which also serve as a hub for other referrals and assistance, including housing, transportation and early intervention mental health needs.
DVCH is investing in three sites to increase its capacity to meet local needs and to support a new family practice residency program—making DVCH the first teaching health center in Philadelphia. Phase one is already complete and includes renovation of 4,400 square feet on Fairmount Avenue for the residency program; phase two supports renovations and equipment for the expansion of behavioral health services at the Girard Medical Center; and phase three includes upgrades to the Fairmount Avenue Health Center, across the street from the residency program.
The Project
Philadelphia is currently grappling with a triple epidemic—high rates of HIV and sexually transmitted infections, rising opioid abuse, and a significant number of unhoused individuals. This $5 million project helps address those often-interconnected challenges by expanding capacity and services in communities where people need care.
For example, the first phase of renovation at 1411 Fairmount, houses the residency program in a property that includes a supportive housing for people who were formerly homeless. At the same time, the Girard Medical Center (GMC) is expanding its offerings of outpatient psychiatric and substance use disorder counseling and treatments. And the third phase at 1412 Fairmount improves and expands a health facility offering a range of services, from primary care to obstetrics to dentistry.
To support the project, Broadstreet is investing $1.56 million from the NMTC Thriving Communities Fund, which is capitalized by TD Bank and managed by Broadstreet. The fund leverages New Markets Tax Credits (NMTCs) to strengthen low-income communities, most notably by fueling community facilities that offer education, health, and social services while also supporting quality jobs for people facing employment barriers.
The Broadstreet commitment flows into a NMTC fund led by PIDC Capital, the city’s public-private development corporation. Other financing for the project comes from DVCH and grants.
Impact Statistics
- $1.56M Broadstreet NMTC Allocation
- 133 Projected Full-time Jobs Created or Retained
The Impact
Without NMTC proceeds, parts of DVCH’s project would likely be sacrificed, with other parts moving forward at a higher cost and with fewer community impacts. As it stands, the project is expected to increase local patient volume by 22 percent to 197,000 visits annually—with most patients being people with low incomes. It will create 37 construction jobs and create or retain 133 full-time jobs, which pay a living wage and benefits. And it will invest in a community where 36 percent of residents are grappling with poverty—including attracting new professionals to community health services in the city.