Capital Fund Supports Unity Care Northwest Expansion in Bellingham, WA
On August 2, 2018, Community Health Center Capital Fund (Capital Fund) participated in a financial closing to support a $15 million health center capital expansion project for Unity Care Northwest in Bellingham, WA.
Capital Fund provided Unity Care with a $6 million New Market Tax Credit (NMTC) allocation that supports new construction to expand the health center’s capacity of existing services. Project financing also includes a NMTC allocation from Primary Care Development Corporation, a loan from US Bank N.A., and a cash investment from the health center.
Expected to be completed in May 2019, the new two-story, 20,000-square-foot facility in Ferndale, WA will replace an existing facility and include three pods of exam rooms, a larger dental unit with 10 operatories, medical assistant work areas, a pharmacy, and administrative office space. Unity, which currently serves about 21,000 patients annually, will be able to increase capacity to serve an additional 8,300 patients annually and add another 49 full-time employees by 2025.
Through four locations in the Bellingham, WA area, Unity Care Northwest has been providing care to residents for over 30 years. To learn more, click here.