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Sutphin Senior Residence and Clinic

Sutphin Senior Residence and Clinic

Type

Healthcare, Residential

Location

Jamaica, Queens, NY

Est. Project Cost

$125 million

Size

145,000 SF

Public Financing

State, City, NMTC

Sponsor

Breaking Ground / CHN

Private Financing

Equity, Bonds, LIHTC

Federal Qualified Health Center

Monge Capital helped structure financing for this $60 million, 145,000 square foot mixed-use development in Queens that combines a 170-unit affordable housing component with a 15,000 square foot healthcare clinic. Targeted at very low-income and formerly homeless seniors, the project provides wraparound supportive services and ensures long-term housing stability. Monge Capital structured a multi-site, multi-CDE bifurcated NMTC financing to help increase access to healthcare for Jamaica and South Bronx communities.

Estimated Economic and Social Impact

Healthcare and wrap-around services for seniors and the elderly.

Project Gallery