|HUD No. 16-006
Charles McNally (212) 542-7647
Olga Alvarez (212) 542-7142
March 9, 2016
HUD GUARANTEES LOAN FOR EXPANSION AND RENOVATION AT ELLIS HOSPITAL
Funds Pay for Nearly 40,000 Square Feet of New and Improved Emergency Services
SCHENECTADY - The U.S. Department of Housing and Urban Development (HUD) announced a loan closing providing nearly $55 million in private funds for the renovation and construction of a new emergency department at the Ellis Hospital in Schenectady, New York. The loan will be guaranteed by HUD's Federal Housing Administration (FHA), which offers mortgage insurance to healthcare, hospital, and nursing home facilities in addition to single and multi-family homes.
"HUD is proud to provide a loan guarantee for this important Ellis Hospital project," said Holly Leicht, HUD Regional Administrator for New York and New Jersey. "The new emergency department is saving lives in Schenectady, and its construction has generated jobs that are a boon to the local economy."
"Partnering with HUD to support the funding of Ellis' new emergency department was a key milestone for Schenectady healthcare. As the sole provider of emergency services, the new state-of-the-art emergency department is a foundation for Ellis Hospital and the generations of Schenectady residents it will continue to care for years to come," said Paul A. Milton, president and CEO of Ellis Medicine.
The FHA-backed private loan covers the renovation of 10,000 square feet of existing hospital space, as well as the construction of the new 29,000 square foot state-of-the-art emergency department for residents of Schenectady and the surrounding Capital District. A new parking facility was also constructed with loan proceeds.
U.S Representative Paul Tonko (D-NY20) said "I am pleased to see this project receive the support necessary to enhance emergency services for Schenectady County residents. When we advance this type of infrastructure improvement, not only do we make lives better in the immediate community, we also create jobs and attract new business to relocate and hire locally."
Schenectady Mayor Gary McCarthy said "I appreciate HUD's key participation as one of several funding partners making these critical facilities at Ellis Hospital a reality for our residents."
HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. More information about HUD and its programs is available on the Internet at www.hud.gov and http://espanol.hud.gov.
You can also connect with HUD on social media and follow Secretary Castro on Twitter and Facebook or sign up for news alerts on HUD's Email List.