NYCRC Closes $20M Financing for Bronx Health Plaza
Image
New York – – September 22, 2026 -- New York City Regional Center (NYCRC) has closed $20 million in New Markets Tax Credit financing to fund construction of an 87,000-square-foot healthcare facility in the South Bronx.
NYCRC deploys portion of $75 million federal tax credit award
The $20 million transaction draws on a $75 million New Markets Tax Credit allocation from the U.S. Department of Treasury to NYC Regional Community Development, an entity managed by NYCRC. To secure the allocation, NYCRC had to demonstrate a track record of directing investment capital into low-income communities.