Bringing the 60,000-square-foot Sankofa Village Wellness Center to life took a coordinated team. GPRWC and MAAFA Redemption Project—another local nonprofit and collaborative member—brought in The Community Builders, an experienced nonprofit real estate firm, to join them in developing the facility. Key service providers—including Rush University Medical Center, Erie Family Health and the YMCA of Metropolitan Chicago—signed 10-year leases, making a long-term commitment to Sankofa’s success.
J.P. Morgan provided a $7.5 million New Markets Tax Credit (NMTC) equity investment to support Sankofa Village Wellness Center. The NMTC equity also provided a path to community ownership. GPRWC and MAAFA Redemption Project will have an opportunity to transition from minority to majority owners after building capacity over the tax credits’ seven-year span.
“NMTC gives us a model that puts ownership where it should be, which is with the community,” Slaughter said. “It’s close to a $50 million asset, and having a plan for it to come back to where it started is monumental.”
“This was a sizeable deal, involving four community development entities that came together,” said Melissa Pillars, executive director, New Markets Tax Credit at J.P. Morgan. “When you hear about the vast differences in quality of life and life expectancy, I don’t know why anybody wouldn’t want to help address this problem.”
In addition to providing NMTC equity, J.P. Morgan supports several organizations involved in the wellness center, providing banking services for Rush, the YMCA of Metropolitan Chicago and The Community Builders. West Side United received a $3 million grant through the JPMorganChase AdvancingCities initiative.
Sankofa Village Wellness Center is also designed to be a community hub, not just a place to visit for appointments. The lobby doubles as a neighborhood gathering spot and hosts events such as evening cooking classes. Slaughter said she’s encouraged to see the center attracting regulars in the months since its opening.
“The most consistent and beautiful response, once we say all that we offer, is ‘That’s cool, who can we talk to, how can we get engaged?’” she said. “And that’s the building blocks of forming community with individuals in the neighborhood.”
