Media Contacts:
For Damien Center:
Myranda Annakin. Porch Light PR, myranda@porchlightpr.com
Kyle Galle, Director of Marketing & Communications, kgalle@damien.org
For financial investors:
Jesse Dean, CSH, jesse.dean@csh.org
For Immediate Release
April 30, 2024 | New York, NY - Damien Center, Indiana’s largest HIV/AIDS service provider, successfully secured financing for its new healthcare and supportive services center. The financing was provided by a consortium of social impact lenders through loans and New Markets Tax Credits (NMTC) financing.
The development of the project, which is estimated to cost more than $37 million, will be made possible through $7.2 million in private donations and sponsor funds and $22.6 million in debt provided by BlueHub Capital, Low Income Investment Fund, and Reinvestment Fund. The project, with consulting assistance from Solaris Community Capital, attracted a total of $27.7 million in NMTC financing provided by Indianapolis Redevelopment Fund, Corporation for Supportive Housing (CSH), and PNC Bank. The valuable tax credits purchased by PNC Bank helped fill a critical funding gap.
“This project will positively impact our ability to address key issues facing low-income families and individuals in the Indianapolis community who need it the most,” said Alan Witchey, president and CEO at Damien Center. “In recent years, we've seen the need for affordable housing, healthcare, food, and other basic needs significantly rise, and we’ve been unable to address them adequately due to lack of space.”
The new 56,000 square-foot, state-of-the-art facility will offer opportunities for people with complex, chronic health conditions to achieve their highest level of health. Damien Center will expand its healthcare and supportive services to provide a one-stop service center to support individuals and families impacted by HIV/AIDS, as well as others in the community who have low incomes or may be experiencing homelessness, to provide access to quality healthcare and services.
“This project will allow us to help thousands of individuals each year who would otherwise not receive the services and care they need. It’s wonderful to see this group of organizations come together and make a difference locally,” added Witchey.
The key services Damien Center’s new state-of-the-art facility will provide include:
- Holistic Healthcare: The center will offer primary, dental, mental health, and vision care services, as well as a lab and pharmacy, ensuring comprehensive healthcare for all visitors.
- Expanded Social Services: The center will expand other support services beyond medical care by offering non-medical case management, a well-stocked food pantry, expanded homelessness and housing referral services, emergency financial assistance, and more.
- Empowerment Through Employment: Recognizing the importance of economic empowerment, the center will also house an Employment Services Center, which will provide workforce development and training opportunities for individuals overcoming various barriers to employment.
- Expanded Community Outreach and Support: The center will also allow Damien Center to expand its outreach services to build a robust network of community care, provide expanded medical case management, HIV testing and prevention services, and offer other community programs.
Damien Center plans to further its commitment to providing holistic, quality healthcare and comprehensive services by developing 40 affordable and supportive housing units adjacent to its new Healthcare and Supportive Service Center.
“We at BlueHub are honored to partner in financing the Damien Center's expansion because of the many benefits it will bring to local residents," said Karen Kelleher, President of BlueHub Loan Fund. “This significant step towards advancing health and social equity in Indiana not only expands access to essential healthcare services but actively builds a healthier, more resilient community. By co-lending with our CDFI partners, we are not just funding a building—we are investing in a beacon of hope and support for thousands of individuals and families facing health challenges and economic barriers.”
“CSH is proud to continue our longstanding partnership with Damien Center in this new endeavor, supporting their vital work in delivering comprehensive healthcare and social services to individuals overcoming barriers to quality care. This investment underscores our shared commitment to equitable community investments, advancing services aligned with affordable housing to empower individuals and communities to thrive,” said CSH Chief Lending Officer, Brigitt Jandreau.
"LIIF is proud to partner on this impactful Damien Center deal via our $6.5 million construction-perm loan leveraging the power of the New Markets Tax Credits program," said Amir Ali, vice president for Community Lending Facilities and New Markets Tax Credits at Low Income Investment Fund (LIIF). "Our organization aspires to fund deals that foster an ecosystem of community support, and that criterion has been met via our investment in this brand-new, 56,000-square-foot federally qualified health center with 57% of clients identifying as BIPOC. This deal aligns with LIIF's mission to create opportunity and equity in under-resourced communities, and we believe it will contribute to improved health outcomes and economic vitality in the area for years to come."
“This transaction, Reinvestment Fund’s first health care deal in Indiana, reflects our commitment to providing capital for projects that will build strong, healthy and more equitable communities. Reinvestment Fund is proud to partner with the Damien Center, their dedicated team, and other mission-driven lenders on a project that will bring a state-of-the-art health and social services facility to Indianapolis,” said Bridget Wiedeman, Senior Director. “Through our support of Damien Center, built upon their long-standing service to the community, more people will have access to and enjoy the comprehensive, high quality, and life-enhancing health care they need and deserve.”
“With a mission to assist high impact organizations in accessing tax credits and structuring the most favorable funding available, we were grateful for the opportunity to work with Damien Center and guide them through the complexities of a multi-faceted NMTC financing,” said Joel Superfon, Managing Director of Solaris Community Capital. “We are proud to work with the Damien Center, and impact oriented CDEs and CDFI lenders, who share a similar mission to create and ensure equitable access to healthcare, social services, and economic opportunities.”
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 four distinct programs: BlueHub Loan Fund (community development financing), BlueHub SUN (foreclosure relief), BlueHub Energy (clean energy access) and One Percent for America (citizenship financing). Visit http://www.bluehubcapital.org for more information about our impact.
About CSH
CSH (Corporation for Supportive Housing) advances affordable and accessible housing aligned with services by advocating for effective policies and funding, equitably investing in communities, and strengthening the supportive housing field. Since our founding in 1991, CSH has been the only national nonprofit intermediary focused solely on increasing the availability of supportive housing. Over the course of our work, we have created more than 467,600 units of affordable and supportive housing and distributed over $1.5 billion in loans and grants. Our workforce is central to accomplishing this work. We employ approximately 170 people across 30 states and U.S. Territories. As an intermediary, we do not directly develop or operate housing but center our approach on collaboration with a wide range of people, partners, and sectors. For more information, visit www.csh.org.
About Damien Center:
Damien Center is Indiana’s oldest and largest AIDS service organization and leads the effort to prevent the spread of HIV. The Center opened in 1987 and offers a one-stop-shop model of care that includes preventive, supportive, and medical services that empowers people in Central Indiana affected by HIV/AIDS to move forward each day with dignity so they may live abundant and productive lives. Damien Center believes passionately in the dignity and worth of every person who seeks their services and strives to be a safe and welcoming place so that no barriers separate people from the services they need to prolong and enhance their lives. For more information visit: http://www.damien.org or follow them on Twitter at @DamienCenter or like them on Facebook https://www.facebook.com/thedamiencenter/.
About Reinvestment Fund
Reinvestment Fund is a mission-driven financial institution committed to making communities work for all people. We bring financial and analytical tools to partnerships that work to ensure that people in communities across the country have the opportunities they strive for: affordable places to live, access to nutritious food and health care, schools where their children can flourish, and strong, local businesses that support jobs. We use data to understand markets and how transactions can have the most powerful impact, which has consistently earned us the top Aeris rating of AAA for financial strength and four stars for impact management. Our asset and risk management systems have also earned us an AA- rating from S&P. Since our inception in 1985, Reinvestment Fund has provided over $3.2 billion in financing to strengthen neighborhoods, scale social enterprises, and build resilient communities. Learn more at reinvestment.com.
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