Uptown Consortium, Inc. (UCI) announced it has invested $8M in Federal New Markets Tax Credits (NMTCs) to UC Health, supporting the creation of the Blood Cancer Healing Center, the nation’s newest, most comprehensive, all-in-one facility devoted to groundbreaking blood cancer research and treatment. The allocation is part of UCI’s NMTC Program. UCI’s investment will be used for furniture, fixtures and equipment inside the Center, which will be in the former Shriners Children’s Hospital Burn Institute building at 3229 Burnet Avenue in the heart of Uptown.
Photo Courtesy: Shriner’s Hospital
“The University of Cincinnati Cancer Center’s new Blood Cancer Healing Center will be a home for newfound innovation. This space connects all the integral partners that work together to lead high-impact discoveries in cancer research,” said UC President Neville G. Pinto, Ph.D.
The University of Cincinnati Cancer Center is a coalition among the University of Cincinnati (UC), a Top 35 public research university, UC Health, the region’s academic health Center, and Cincinnati Children’s Hospital Medical Center, the nation’s top-ranked pediatric cancer care and overall children’s hospital. All three organizations are UCI Members.
Rendering Courtesy: UC Health
The renovation of the former Shriners Children’s Hospital will include 30 inpatient beds, a dedicated unit for clinical trials, an outpatient clinic, an infusion clinic and an Inpatient-Outpatient Unit (IPOP) for 24/7 symptom support, keeping immunocompromised cancer patients out of the Emergency Department. Survivorship and integrative services for treatment that mitigate side effects and enhance overall quality of life are also planned to be available in the building’s future phases.
“The Blood Cancer Healing Center was designed with input from patients and their caregivers, with access to the newest therapies and supports in one physical space, making healing possible for the mind, body and spirit and advancing research for the next cure for this disease,” Cory Shaw, UC Health President & CEO said.
UC and UC Health are jointly funding the $131 million project with operational dollars, financing and philanthropic support from the community. The NMTCs will allow UC Health to preserve capital for operations and generate approximately $1.8 million in equity for the Center. Check out a walk-through video of the project from UC Health here.
UCI’s decision to allocate NMTCs to this project is the result of it being in line with UCI’s vision for transforming Uptown into an innovation hub. UCI was awarded $20 million in NMTCs in September 2023, making it one of three organizations in Ohio to receive them among 102 across the United States. UCI was the only entity in Cincinnati to be awarded.
"UCI is making a bold investment, channeling New Markets Tax Credits into The Blood Cancer Healing Center. This isn't just about Uptown or Southwest Ohio; it's about forging a beacon of hope that will resonate across generations. By backing this groundbreaking facility, UCI is fueling a lifeline for countless families battling blood cancers, leaving an indelible mark in our local community as a catalyst for job creation, a magnet for top talent and a force for positive change," Beth Robinson, UCI President & CEO, said.
The Blood Cancer Healing Center is the vision of John C. Byrd, MD, a UC Health physician-researcher who also serves as the Gordon and Helen Hughes Taylor Professor and Chair of the Department of Internal Medicine at the University of Cincinnati. Dr. Byrd is a pioneer in leukemia and other blood cancer research, advocating for a whole-person approach to healing and advancing breakthrough treatments for patients worldwide.
“Research advancements for many forms of blood cancer are giving new life to patients. You can now survive years past a blood cancer diagnosis, managing it as a chronic illness. The Blood Cancer Healing Center supports this new life for patients by bringing all the needed supportive services and pioneering research together to deliver personalized care in one therapeutic environment,” said Dr. Byrd.
The Center will open in phases starting in Summer 2024 with clinical services. Other spaces will open in 2025. The leading-edge facility will provide critical resources to address the needs of the 1.6 million people in the U.S. impacted by blood cancers, such as leukemia, each year.
Rendering Courtesy: UC Health
The facility will also provide an estimated 22,000 patient visits annually, with expanded care for low-income patients who, along with minority patients, are disproportionately impacted by blood cancers.
The Center will retain 90 full-time employees and create 147 new full-time jobs and 85 construction jobs. Retaining existing jobs and creating new jobs is paramount for sustaining economic vitality in Uptown and fostering community growth. The Center will also accelerate efforts to recruit high-caliber physicians and researchers to positively impact the financial and community health of the Southwest Ohio Region.
UC purchased the former Shriners Hospital building in 2021 and leased floors 1-3, where the Blood Cancer Healing Center will be located, to UC Health. Separate from that project but crucially co-located, UC will open research space on floors 4 and 5 of the same building.