Healthcare Nurse Adult Patient

New Markets Tax Credits Support for Sun Life Family Health Center

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The Project

Sun Life Family Health Center (Sun Life) has developed a 110,000-square-foot Next Generation Health Care Campus in Casa Grande, Arizona. Centrally located within the organization’s nine ZIP code primary service area, the facility expands access to primary care, pediatrics, OB/GYN services, dentistry, behavioral health and pharmacy services for residents in a medically underserved area.

In addition to expanding access to care, the campus provides space for existing physician, nursing and dentistry residency programs. The development also creates additional capacity within other Sun Life facilities for vocational certificate programs, including pharmacy technician, dental assistant, medical assistant and other health care training programs.

The project is intended to support Sun Life’s continued growth while expanding access to health care services and workforce development opportunities throughout the region.

The Community

Located in Pinal County between Phoenix and Tucson, the project serves an area designated by the Health Resources and Services Administration as a medically underserved population, as well as a mental health and dental Health Professional Shortage Area (HPSA).

Sun Life’s patient population reflects many of the health challenges common in rural communities, including elevated rates of obesity, hypertension and diabetes. At the same time, Pinal County faces a shortage of health care professionals, with the local health care workforce estimated to be approximately half the national average relative to the county’s size.

As demand for health care services continues to grow, shortages in nursing, behavioral health, and other specialized positions are expected to place additional pressure on providers throughout the region.

TOTAL DEVELOPMENT COST:
$61,395,000

NMTC ALLOCATION:
$31,000,000

PROJECT TIMELINE:
Construction Completed Summer 2026

CDE:
Accion Opportunity Fund
Grow America
Clearinghouse Community
Development
Capital One CDE

ADDRESS:
1877 E. Florence Blvd.
Casa Grande, AZ 85122

NMTC INVESTOR:
Capital One

CENSUS TRACT:
04021001407

HIGHER DISTRESS
CHARACTERISTICS:
Median Family Income: 60%
Unemployment: 15.8% (2.93x)
Mental Health HPSA
Dental HPSA

COMMUNITY OUTCOMES:
Permanent Jobs:
201 retained, 158
created

Construction Jobs:
350

Patient Visits:
~240,000 annually

Patient Served:
~84,000 unique
patients annually

The Need

Sun Life’s growing patient population and expanding training programs require additional space to meet current and future demand. Rising construction costs and higher borrowing costs have increased the overall cost of the project, creating additional challenges for the nonprofit organization. The new campus will consolidate services while supporting expanded health care access and workforce development opportunities throughout the region.

The Sponsor

Founded more than 45 years ago, Sun Life Family Health Center is a Federally Qualified Health Center (FQHC) and is accredited by the Joint Commission as a Primary Care Medical Home.

In 2022, Sun Life served approximately 46,000 unique patients through more than 153,000 patient visits. Approximately 50% of patients identified as Hispanic or Latino, and 89% were considered low-income. The Casa Grande campus represents the organization’s largest expansion to date.

The Impact

Construction of the project is expected to create approximately 350 jobs. Upon completion, the campus is expected to retain 201 positions and create an additional 158 positions during the compliance period.

The facility is expected to accommodate more than 240,000 patient visits annually, serving more than 84,000 unique patients each year. Employees will have access to medical, dental, vision, life insurance and retirement benefits.

Beyond expanding access to care, the project will support physician, nursing, and dentistry residency programs while creating additional opportunities for vocational training. These programs are expected to strengthen the health care workforce and help address provider shortages across the region.

How Did Cherry Bekaert Help?

Without New Markets Tax Credit (NMTC) financing, rising construction costs and higher borrowing costs would place additional strain on the nonprofit organization’s resources. Cherry Bekaert worked with Sun Life to bring in Community Development Entities (CDEs) that understand the impact this FQHC facility will have on the local community. Cherry Bekaert worked with the existing lenders, the USDA and new CDEs to create an efficient structure to deliver the NMTC benefit.

Connect With Us

Laurel Tinsley

Strategic Financing Services Leader

Partner, Cherry Bekaert Advisory LLC

Joseph Hennessee

Strategic Financing Services

Director, Cherry Bekaert Advisory LLC

Contributors

Connect With Us

Laurel Tinsley

Strategic Financing Services Leader

Partner, Cherry Bekaert Advisory LLC

Joseph Hennessee

Strategic Financing Services

Director, Cherry Bekaert Advisory LLC

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