Healthcare is booming in North Texas. A look at the Best Medical Project contenders in D CEO’s Commercial Real Estate Awards program provides ample evidence. Leading up to the big event, we’re profiling the program’s 41 finalists at RealPoints, tackling one category each day. So far, we’ve featured the Broker of the Year, Excellence in Architecture/Design, Best Commercial Property Sale, Best Land Sale, and Best Industrial Project contenders. For a list of all finalists, click here.
UPDATE: Scroll down to see the winner.
Forest Park Medical
In less than five years, Neal Richards Group, led by CEO Derrick Evers, has built a $1 billion real estate empire by creating a new industry sector: healthcare mixed-use. Its upscale Forest Park Medical centers evoke a five-star hospitality experience and are supported by both retail and medical office amenities. The brand was particularly active in 2012, with three new North Texas projects.
They include Forest Park Medical Frisco, a four-story, 137,000-square-foot surgical hospital and 90,000-square-foot mixed-use building located within Frisco Square; Forest Park Medical Center at Southlake, a 142,000-square-foot hospital with an 88,000-square-foot medical office building; and Forest Park Medical Center Fort Worth, a 150,000-square-foot acute care hospital with 80,000 square feet of medical office space, being built on along the Trinity River within the Clearfork mixed-use project.
All three projects are pursuing Silver LEED certification and include myriad energy-efficiency features.
Methodist Richardson Medical Center Bush/Renner Expansion
By the summer of 2014, Methodist Richardson will have completed its $120 million hospital expansion, effectively bringing 100 new jobs and $45 million to the area. The new 125-bed, four-story acute care hospital, which sits at the southeast corner of Renner Road and President George Bush Turnpike, will total 266,575 square feet.
Led by Ken Hutchenrider Jr., president of Methodist Richardson Medical Center, the expansion will not only increase the number of patients who can be served, but adds more women’s and infant services, an advanced neurosciences program, and the robotic da Vinci Surgical System, among other things.
Bill Sproull, president and CEO of the Richardson Chamber of Commerce, called the expansion “a $120 million short in the arm” for the local economy. “It also will provide healthcare services to communities on the eastern side of the North Texas area that don’t have those level of services now,” Sproull said. “With the Bush Turnpike now connected to I-30, this will be a magnet for healthcare services from those markets.”
Texas Health Harris Methodist Hospital Alliance
The North Fort Worth Alliance area population more than doubled between 2000 and 2010, adding more than 110,000 residents. In an effort to serve this fast-growing community, Texas Health Harris Methodist Hospital Alliance opened its doors this past September at I-35W and Golden Triangle Boulevard.
The 188,000-square-foot, four-story hospital is licensed for 50 beds, including 12 ICU beds, 24 medical/surgical beds and 14 postpartum beds. It offers emergency medicine, women and infant services, surgical services, imaging, physical therapy, cardiac rehabilitation, and occupational health.
Planning for the hospital began in August 2009, said Winjie Tang Miao, the hospital’s president. “We asked ourselves what the next generation of healthcare would look like,” she said. “This facility is truly built by the community, for the community. We have brought best practices from across the Texas Health system and the country to this hospital in order to deliver the health care this community deserves.”
WINNER: This year’s Best Medical Project goes to Forest Park Medical. Click here for a complete list of winners and finalists from this year’s Commercial Real Estate Awards.