MassDevelopment and Rockland Trust have financed a $9M tax-exempt bond for Harbor Health Services to expand its Hyannis community health center by 35%, adding capacity for thousands of new patients.
Harbor Health Services is growing its presence on Cape Cod, backed by $9 million in tax-exempt bond financing arranged through MassDevelopment and purchased by Rockland Trust.
At the center of the project is Harbor Community Health Center in Hyannis, located at 735 Attucks Lane, which currently serves more than 10,000 patients annually across medical, dental, behavioral health, pharmacy, and social support programs. Harbor Health had previously acquired an adjacent commercial property, and renovation of that space will account for a portion of the bond proceeds. Remaining funds will go toward retiring existing debt.
Community health centers of this type typically serve populations that rely heavily on Medicaid, uninsured access programs, and sliding-scale fee structures, making capital access a consistent operational challenge. Tax-exempt bond financing, facilitated through state development agencies, offers nonprofits in this sector a lower-cost borrowing path compared to conventional commercial lending.
Once construction is complete, the Hyannis facility will be roughly 35% larger than its current footprint. Harbor Health projects the project will support up to 20 full-time positions. The organization currently operates five community health centers across Boston, the South Shore, and Cape Cod, along with two PACE day centers and a Women, Infants, and Children nutrition program, collectively serving more than 30,000 patients.
According to a release issued by MassDevelopment, the $9 million tax-exempt bond was issued on behalf of Harbor Health Services Inc., with Rockland Trust serving as bond purchaser. The project site is 735 Attucks Lane, Hyannis, Massachusetts.