PCDC Finances Integrated Care for San Francisco’s Underserved

Categories: Investment

San Francisco ImageWhile known for sky-high real estate costs and a thriving tech industry, San Francisco also has a large low-income community lacking access to primary care, behavioral health, and social services. Recognizing that need, the Primary Care Development Corporation (PCDC) has provided $12 million in New Markets Tax Credit allocations and $1.7 million in term loan financing for HealthRIGHT 360’s $52.8 million health care facility project. HealthRIGHT 360 operates more than 55 distinct programs in 11 California counties that provide care and treatment to over 28,000 individuals a year.

The financing, provided by Bank of America and a collaboration of mission-based CDFI lenders, including PCDC, Nonprofit Finance Fund (NFF), Northern California Community Loan Fund (NCCLF), Corporation for Supportive Housing, Enterprise Community Investment, Inc., and Dignity Health, will enable HealthRIGHT 360 to acquire and renovate the five-story site, formerly the home of a clothing manufacturer.

With this new facility opening in 2017, HealthRIGHT 360 will be able to accommodate 24,000 medical visits (an 86 percent increase over previous capacity) and 20,000 behavioral health visits using 15 medical exam/procedure rooms, a dental clinic and a behavioral health center, including a substance abuse and outpatient behavioral health services, and a client resource center. This integrated center will bring necessary, affordable care into the Mission, South of Market, and Downtown/Civic Center neighborhoods, where more than a quarter of the residents are below 100 percent of the federal poverty level, including 70 percent MediCal enrollees and 10 percent uninsured.