The Sponsor

HealthPoint is a nonprofit Federally Qualified Health Center providing primary care to underserved communities throughout the Seattle-King County metropolitan area. The organization operates a network of 19 medical, dental, and school-based health centers that see as many as 92,000 patients annually, most of whom are uninsured.

The Project

HealthPoint is building a new facility in Tukwila, Wash., a city of more than 21,000 where 36 percent of adults say they lack a usual primary care provider and nearly 33 percent have not seen a dentist in the past year. In replacing a leased clinic space, HealthPoint plans to double the number of primary care patients it serves in Tukwila to 8,000, while also increasing the number of dental patients seen by 73 percent, to more than 3,500.

The two-phase project includes a new 45,600-square-foot building with 18 medical exam rooms, 10 dental operatories, and integrated spaces for behavioral health, naturopathic care, substance use treatment, and pharmacy services. The second phase (not funded by this investment) includes a community facility with a teen and senior center, flexible space for nonprofit providers, community gathering spaces.

To support the first phase of the development, Broadstreet committed $9.5 million in New Markets Tax Credit allocation from the Local Initiatives Support Corporation (“LISC”), with Wells Fargo as the tax credit investor. Other New Markets allocatees and lenders have also contributed to the project’s $54 million total development cost.

The Impact

The HealthPoint development will serve low-income patients in a community where local families earn just 50 percent of the area median income. The effort supports 78 jobs at the facility, as well as 137 construction jobs, and it also advances broader redevelopment goals for Tukwila, bringing positive to activity to a commercial corridor that was once a focal point for derelict properties and crime. Without low-cost financing supported by NMTCs, the project would not likely have moved forward.