The Copley Hospital is a landmarked former hospital campus with buildings dating back to 1888 and consists of nine structures spread across nine acres. In 1995, the new Rush-Copley Medical Center opened, and the Copley Hospital was closed. When the renovation is completed in 2022, the mixed-use property will include medical office, nonprofit space, senior housing, and rental apartments for high functioning low need adults with cognitive disabilities.
Total Development Costs:
~$150 million
Project Sources:
State Historic Tax Credits, 20% Federal Historic Tax Credits, City Grants / TIF, Tax Credit Bridge Loan, PACE, New Markets Tax Credits, Deferred Developer Fee, and Construction Loan
