Sinai Health System receives $31M from city of Chicago for major redevelopment project

Chicago-based Sinai Health System is planning a $100 million project that will convert semi-private rooms at Mount Sinai Hospital to private rooms, and the system has already received $31 million from the city of Chicago for the redevelopment, according to a Crain’s Chicago Business report

The four-hospital health system also plans to expand and renovate outpatient facilitates and open a mental health unit at Holy Cross Hospital in Chicago, according to the report.

The city funding for the project will come from tax-increment financing, and the health system will receive the money incrementally over nine years, as milestones of the redevelopment are completed.

Sinai Health System will also use money from state grants, fundraising and operating capital to help fund the project, according to the report.

Sinai Health System receives $31M from city of Chicago for major redevelopment project

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