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.
The project is anticipated to be completed in the 2nd quarter of 2022. 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.