History - The Hospitals & Higher Education Facilities Authority of Philadelphia

Philadelphia has a history of leadership and innovation in the professions of medicine and education. It is home to the nation’s first hospital, medical school, children’s hospital, eye hospital, college of pharmacy and the world’s first women’s medical school—to name a few.

Despite this legacy of leadership, by the mid 1970’s the infrastructure of our region’s institutions was in need of upgrading and updating. Significant capital resources were needed to undertake a major effort to replace and renovate the region’s hospitals and other facilities—utilizing sources of low cost, tax–exempt financing.

As a response to this need, in 1974 the City of Philadelphia created what eventually became known as The Hospitals and Higher Education Facilities Authority of Philadelphia. Since then, we have played a key role in helping to finance and modernize major institutions throughout the region. More than just bricks and mortar, these HHEFAP projects have helped the Philadelphia region re-establish itself as an international center of medical and educational excellence.

Since our founding, the scope of our work has grown to include financing projects for a variety of nonprofit and sub-acute care facilities, nursing homes, higher education, secondary schools and community service organizations in the state of Pennsylvania.

Throughout our history, we have been inspired by the belief that significant benefitto the community is made possible by the capital we raise for our worthy clients and their causes.