In collaboration with J.P. Morgan and multiple community development entities, New Markets Tax Credit financing will help Harvard Street Neighborhood Health Center construct a new health center that expands access to integrated, culturally competent care in Boston.
BlueHub Capital, a national nonprofit community development finance organization, today announces an $11 million New Markets Tax Credit (NMTC) investment in Harvard Street Neighborhood Health Center (HSNHC), a Federally Qualified Health Center providing comprehensive healthcare and human services to underserved residents of Dorchester, Roxbury, Mattapan and surrounding Boston neighborhoods.
The investment is part of a $52.75 million in combined NMTC allocation supporting the construction of a new three-story building at 8 Old Road in Dorchester, adjacent to HSNHC’s current location. The new facility will more than double the square footage of HSNHC’s current 18,000-square-foot building, allowing the organization to consolidate services, expand clinical capacity and provide a modern, patient-centered environment for care.
In addition to BlueHub’s $11 million NMTC allocation, the financing includes NMTC allocations of $13 million from The Community Builders (TCB), $11.75 million from MHIC, $10 million from Local Initiatives Support Corporation/Broadstreet Impact Services, $4 million from CHC Capital Fund and $3 million from J.P. Morgan, which also served as the tax credit investor in the transaction.
Founded in 1969, HSNHC is a primary healthcare resource for a highly multicultural and multilingual community. As a need-blind organization, it provides care regardless of ability to pay and serves a patient population that is approximately 97% low-income. HSNHC currently serves about 10,600 patients each year and expects to reach approximately 14,000 patients after the new facility opens. Annual clinic visits are projected to increase by more than 30%, from approximately 43,600 to 57,000.
HSNHC’s existing facility, built in the early 1900s, was not designed for its current patient volume or range of services. The aging building’s space constraints have spread services across multiple sites, resulting in fragmented care, inefficient workflows, and limited capacity for critical programs.
The new facility will bring together primary and specialty services, including family medicine, behavioral health, women’s health and OB/GYN, dental and eye care, nutrition, podiatry, laboratory and pharmacy services, adolescent health, and cancer screening in partnership with Dana-Farber Cancer Institute. It will also introduce two new service lines: portable radiology and substance use disorder treatment.
A central goal of the project is to integrate behavioral health into primary care. Behavioral health providers, currently located about half a mile from the main clinic, will be co-located in the new facility, creating a more coordinated, patient-centered model that addresses physical and behavioral health needs in one place.
"Securing these New Market Tax Credits is a massive milestone for Harvard Street and the entire neighborhood," said Charles A. Murphy, HSNHC President & CEO. "This $11 million investment from Blue Hub Capital and JP Morgan Chase gives us the resources we need to break ground on a comprehensive new health center that will change lives for generations to come - creating a stronger, healthier, and more equitable community. We're excited for this vision to become a reality."
“New Markets Tax Credits help make essential community facilities possible by attracting private investment to projects that expand access, create quality jobs and strengthen neighborhoods,” said Connie Max, BlueHub Capital’s President of Managed Assets and Chief Credit Officer. “For Harvard Street Neighborhood Health Center, this financing will help deliver a modern, integrated health center that brings critical services together in one place for the patients and families who rely on HSNHC.”
“Access to high-quality healthcare is foundational to healthy communities,” said Elyse Cherry, CEO of BlueHub Capital. “Harvard Street Neighborhood Health Center has been a trusted community institution for decades, and this project will help ensure that local Boston residents can continue to receive culturally competent, comprehensive care in a facility designed to meet community needs now and in the future.”
Expanding Access to Healthcare and Community Services in Dorchester
In addition to expanding healthcare access, the project is expected to generate significant economic and workforce benefits. Construction is expected to create approximately 95 full-time equivalent jobs, and expanded operations will add at least 51 permanent clinical and administrative positions, increasing total employment from approximately 145 to 196 full-time equivalent staff. Many of these roles are expected to be filled by local residents, including strong representation from minority workers and women. The project includes a commitment to a 100% union construction workforce and partnerships with workforce development and apprenticeship programs to support hiring and training opportunities.
The new facility is also intended to support broader neighborhood revitalization along the Blue Hill Avenue corridor. The health center represents the first phase of a larger mixed-use master plan that is expected to redevelop HSNHC’s current properties into affordable housing and community-serving commercial space. Future phases are expected to create approximately 85 to 100 affordable housing units and strengthen the area’s long-term economic and residential stability.
Community Financing for an Inclusive Future
BlueHub’s NMTC program supports high-impact community development projects that benefit low-income and underserved areas. Through allocations from the U.S. Department of the Treasury, the program attracts private investment and lowers the cost of capital for projects that create jobs, expand essential services and generate long-term economic opportunity.
“When communities have access to trusted, high-quality healthcare, they have a stronger foundation to thrive,” said Olivia Pipitone, who leads New Markets Tax Credit work in the East for J.P. Morgan. “We are proud to partner with Harvard Street Neighborhood Health Center on a project that will expand care, increase capacity, and create quality jobs, ensuring more residents have access to the services and support they need to lead healthier lives.”
“For more than 50 years, Harvard Street has served Grove Hall from a building never designed for the patients it serves today, one without even backup power to protect its vaccines," said Moddie Turay, President and CEO of MHIC. "We committed $11.75 million of our limited NMTC allocation to help Harvard Street continue serving patients at a high level, and to keep communities like Grove Hall intact, with the facilities they need to achieve good health outcomes. The new building means a deeply underserved neighborhood keeps its health center, and its patients receive care with the dignity they deserve.”
“The Community Builders is proud to support Harvard Street Neighborhood Health Center’s expansion and its mission to provide accessible, culturally responsive care,” said Malik Aziz, senior program manager at The Community Builders. “This new facility will strengthen healthcare access, improve patient outcomes, and serve as an important investment in the long-term vitality of the Dorchester community.”
"LISC Massachusetts is proud to be supporting a $10 million New Market Tax Credit investment in Harvard Street Neighborhood Health Center, through our affiliate Broadstreet Impact Services," said Gustavo Quiroga, Executive Director of LISC Massachusetts. "This investment will drive much-needed investment into the heart of Dorchester, a neighborhood that is home to a vibrant and diverse community but that has struggled with the health outcomes that result from under-investment and a lack of access to healthy housing and robust health services. Harvard Street Neighborhood Health Center's new health campus will deliver the healthcare services residents across the city need in a facility they deserve. Taken together, this development will improve community health and inject renewed vitality into the neighborhood, and LISC is thrilled to be a part of it."
About BlueHub Capital
BlueHub Capital is a mission-driven, nonprofit community development finance organization focused on building healthy communities where low-income people live and work. BlueHub uses innovative financial tools to support projects that make communities more vibrant places to live through three distinct programs: BlueHub Loan Fund (community development financing), BlueHub SUN (foreclosure relief) and One Percent for America (citizenship financing). Visit BlueHub Capital’s website for more information about its impact.
About Harvard Street Neighborhood Health Center
Harvard Street Neighborhood Health Center is a Federally Qualified Health Center serving underserved populations across Boston, including residents of Dorchester, Roxbury and Mattapan. Established in 1969 as part of the Boston Department of Health and Hospitals, HSNHC became an independent not-for-profit institution in 1976. Today, the organization provides culturally competent, comprehensive healthcare and human services to a highly multicultural and multilingual patient population.
HSNHC offers family medicine, behavioral health, women’s health and OB/GYN, dental care, eye care, pharmacy, nutrition counseling, podiatry, laboratory services, cancer screening, adolescent health services, family planning, Veterans Services, onsite food pantry, and community-based programs addressing social determinants of health. The organization is committed to ensuring access to high-quality care regardless of a patient’s ability to pay.
About Massachusetts Housing Investment Corporation
MHIC is a nonprofit community development financial institution based in Boston that finances affordable housing and community development throughout New England. Through its lending, equity, and New Markets Tax Credit programs, MHIC invests in housing, community facilities, and jobs-focused industrial and commercial projects in the region's most distressed communities. To date MHIC CDE has deployed over $1 billion in NMTC Allocation to 124 projects across 7 states.
About The Community Builders
The Community Builders’ mission is to build and sustain strong communities where all people can thrive. Our mission-driven businesses work with partners to develop, finance, and operate residential communities, neighborhood amenities and opportunity programs for families, seniors, and adults with disabilities. Since 1964, we have advanced housing that is fair for all through award-winning affordable and mixed-income communities and our pioneering Community Life model for resident success. Today, our ownership and management portfolio include over 18,000 apartment homes. Anchored by offices in Boston, Chicago, Columbus, New York, and Washington D.C., we operate across 15 states.
About CHC Capital Fund
Capital Fund is a mission-driven Community Development Financial Institution (CDFI) dedicated to expanding access to high-quality, community-based healthcare by providing innovative financing solutions to Federally Qualified Health Centers (FQHCs), Community Health Centers (CHCs), and other nonprofit healthcare providers nationwide. Working in partnership with its technical assistance affiliate, Capital Link, Capital Fund helps health centers strengthen infrastructure, expand capacity, modernize facilities, and increase access to care for underserved communities.
Through flexible capital financing, including direct loans, New Markets Tax Credit (NMTC) financing, and customized solutions that address cash flow and funding gaps, Capital Fund supports health centers in achieving long-term sustainability, growth, and resilience.
Guided by a commitment to trust, collaboration, and respect, Capital Fund works to amplify the impact of community health centers by providing the resources and financial tools they need to deliver patient-centered care. The organization envisions a future in which every individual is treated with dignity and respect and has access to quality healthcare, regardless of their ability to pay.
For more information, visit https://capfund.org.
About Local Initiatives Support Corporation/Broadstreet Impact Services
Broadstreet was founded by parent company Local Initiatives Support Corporation (LISC) in 2004 to manage its New Markets Tax Credit (NMTC) allocation at the outset of the federal program. Since then, LISC/Broadstreet has grown to become the largest awardee in NMTC program history, with nearly $1.3 billion in investment authority from the U.S. Treasury Department to expand economic opportunity and empower under-resourced communities.
Broadstreet continues to manage LISC's NMTC investments, working with investors and community leaders to support economic development efforts in under-resourced communities while also providing Fund Services and Fund Management to the broader impact investing industry.
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