In November 2021, CDF provided $5.5 million in New Markets Tax Credit (NMTC) allocation to Mount Sinai Hospital to fund its buildout and equipping of a new 30,000-square-foot Surgical & Ambulatory Care Center located within Phase 1 of the Ogden Commons redevelopment on Ogden Avenue in North Lawndale. This new facility relocates and expands Sinai Health System’s ambulatory services from the existing hospital into a patient-centered, cost-effective setting to increase and improve access to high-quality, culturally competent medical care and chronic care management.
The Surgical & Ambulatory Care Center at Ogden Commons will serve approximately 24,000 unique patients per year (60% low income), supporting approximately 45,000 patient visits annually with an emphasis on North Lawndale and adjacent neighborhoods. This includes a nearly 50% increase in dialysis treatments through the addition of 7 new dialysis chairs to the 11 chairs currently operated. Additionally, the project is anticipated to support 41 FTE permanent jobs, 100% of which will pay above Chicago’s living wage. Sinai Health System is working with a number of community partners to source employees, including Erie Neighborhood House, CARA, Lumity – STEMWorks, Park Douglas, Anixter Center, Safer Foundation, Employment and Employer Services, and Metropolitan Family Services.
In coordination with CDF’s financing, Southside Community Optimal Redevelopment Enterprise provided $10 million in federal NMTC allocation and $8.25 million in state NMTC allocation for the project. NMTC equity was provided by US Bank.