New Markets Tax Credit Investments
Singing River HospitalPascagoula, Mississippi
CityScape Capital Group assembled the key tax credit equity financing for the $21.8 million development of a new medical office building at the Singing River Hospital campus located at 2809 Denny Boulevard in Pascagoula, MS.
Johnson Development, LLC has successfully completed the construction of the new hospital facility for the Singing River Hospital System. The new building contains physician suites, an outpatient imaging center, physical therapy and cardiopulmonary rehabilitation activities, as well as a comprehensive wellness center with aquatics. It is estimated that the project created 70 new construction jobs and 60 new full-time permanent healthcare jobs while relocating another 100 full-time healthcare jobs in a census tract with 22.8% poverty rate.
Singing River Healthcare System (SRHS) has provided world-class health care for the citizens of Jackson County and southern Mississippi and Alabama for over 75 years. SRHS is a community health system comprised of six community medical clinics and two state-of-the art hospitals, including Singing River Hospital in Pascagoula, which is licensed for 435 beds, and Ocean Springs Hospital in Ocean Springs, which is licensed for 136 beds. The development of the new medical office building at Singing River Hospital enabled the Singing River Hospital System and its 2,500 employees to integrate important new services into SRHS while continuing to provide world-class care to the greater community.