MassDevelopment Collaborates with East Boston Neighborhood Health Center to Expand Elder Care
On February 13, 2018, NEC Members MassDevelopment and East Boston Neighborhood Health Center Corporation (EBNHC) announced their collaboration to expand an elder care program. MassDevelopment has issued a $7 million tax-exempt bond for EBNHC, one of the largest community health centers in the United States and a primary care health center in East Boston, to build a senior care center.
EBNHC intends to expand its elder care program by using the bond proceeds to buy and demolish the former Veterans of Foreign Wars social club in Revere and in its place, build, furnish, and equip a single-story, 15,000-square-foot building. The new building will house the Revere Neighborhood Program of All-Inclusive Care for the Elderly (PACE) and will include a medical clinic and spaces for physical therapy, recreational therapy, and social services.
“MassDevelopment is delighted to partner with the East Boston Neighborhood Health Center to help transform this vacant property in Revere into a center for high-quality, comprehensive senior care,” said MassDevelopment President and CEO Lauren Liss. James Hazard, CFO at EBNHC said, “The Agency’s assistance in financing our new Revere Neighborhood PACE site will have a great positive impact on keeping older adults in our community, in their own homes, healthy, active, and independent.”
The New England Council welcomes MassDevelopment’s collaboration with East Boston Neighborhood Health Center Corporation and looks forward to the completion of this new facility. Read more the announcement on MassDevelopment and on High Profile.
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