Providence Health and Services

AIDEA issued $122.72 million in tax-exempt conduit revenue bonds for Providence Health and Services to provide funds to finance Providence Alaska Cottages, a 96-bed nursing home consisting of eight cottages and a commons building on Boniface Parkway in Anchorage, and to finance capital improvements at Providence Alaska Medical Center on Providence Drive in Anchorage.

The improvements at Providence Alaska Medical Center include renovations of existing facilities and approximately 85,782 square feet of new construction. The project includes renovations and expansion of a newborn Intensive Care Unit, an obstetrical unit, two open-heart surgery suites, and expansion of the pharmacy, sterile processing and materials management.

These projects are expected to create 85 new permanent positions and an estimated 403 construction positions.