Tag Archive for: hca healthcare

Medical Office, Hospital Expansions Among Orlando’s Largest Proposed Health Projects This Year

adventhealth palm coast parkway

There’s no lack of health care projects in Orlando so far in the first six months of 2022 — bringing more construction and jobs into the area.

Major care systems like AdventHealth and Orlando Health are finishing up respective projects estimated in the millions of dollars.

For example, Orlando Health has plans to wrap up its $341 million, 370,000-square-foot Orlando Health Jewett Orthopedic Center during 2023. Also, Altamonte Springs-based AdventHealth is finishing its 12-story, 300,000-square-foot Innovation Tower medical office building in downtown Orlando later this year and is preparing a new freestanding emergency department and medical office on the former site of The Holy Land Experience in Orlando’s Millenia neighborhood.

Nationally, the activity is following the same trend. Raleigh, North Carolina-based FMI Corp. expects health care construction spending in the U.S. to go from $53 billion in 2022 to $62 billion in 2025. That is due to demand for services for an aging population and the addition of people to certain parts of the country.

Jeff Butler, senior pre-construction manager in Florida for Birmingham, Alabama-based Robins & Morton, previously told Orlando Business Journal his company has seen a lot of local health care systems and companies invest in facilities due to the area’s population growth and other factors.

“We are seeing more health systems add capacity to their hospital campuses, from inpatient beds to emergency, imaging and specialty care services,” Butler said. “We believe some of this is a response to the lack of bed availability throughout the Covid pandemic, but we also believe it’s a reaction to aging infrastructure.”

Here are some of the largest health care projects proposed so far in metro Orlando:

Healthcare Trust of America Olympus medical office

  • Cost: Estimated at $100 million
  • Description: Healthcare Trust of America (NYSE: HTA) has proposed 175,000 square feet of space, including a 96,000-square-foot building in the first phase inside the Olympus mixed-use development in Clermont. The Scottsdale, Arizona-based company is targeting the start of construction either this December or January 2023.

AdventHealth’s two new medical office buildings

  • Cost: Roughly $30 million each, $60 million total
  • Description: AdventHealth will open a new three-story, 58,000-square-foot medical office building with an outpatient surgical center at 950 Rinehart Road in Lake Mary early next year and a new two-story, 36,000-square-foot medical office building will open at 5821 S. Williamson Blvd. in Port Orange in October. Both projects are located next to existing freestanding emergency rooms.

HCA Florida Poinciana Hospital expansion

  • Cost: $9.9 million
  • Description: HCA will build out 13,000 square feet of shell space in the hospital, expanding the hospital’s intensive care unit capacity from six to 12 bed and adding 18 inpatient beds to reach a total of 94. The project is expected to wrap up in spring 2023 after starting construction in May.

Orlando Health Center for Rehabilitation conversion

  • Cost: Not listed
  • Description: Orlando Health is establishing its first rehabilitation hospital in the region by converting the Orlando Health Center for Rehabilitation on the campus of Orlando Health – Health Central Hospital in Ocoee into a 54-bed inpatient facility. The hospital will have room to expand up to 100 beds in the future and is expected to start taking patients in 2023.

HCA Healthcare Inc.’s new Lee Vista emergency room

  • Cost: Not listed
  • Description: The Nashville, Tennessee-based (NYSE: HCA) health system filed plans with the city of Orlando for a 10,860-square-foot, one-story freestanding ER at 5597 Lee Vista Blvd. in Orlando, where it has a ground lease. A timetable for the facility to be built has not been announced yet.

 

Click here to read more about this story.

/by

HCA Healthcare Hospital Buys Lake County Land

HCA Florida Lake Monroe Hospital 760x320

HCA Florida Lake Monroe Hospital — formerly Central Florida Regional Hospital in Sanford — bought 3.01 acres at 16831 U.S. Highway 441 in Eustis for $3.06 million, according to recently updated Lake County records. The hospital, owned by Nashville, Tennessee-based HCA Healthcare Inc., bought the property from the Vaughn Family Trust in December.

The for-profit company has 11,000 physicians and 77,000 employees in Florida at 49 hospital campuses, 350 physician practices and freestanding emergency rooms and over 50 urgent care centers.

 

Source:  OBJ

/by

HCA Florida Hospital To Build $100 Million, 5-Story Tower In Fort Pierce

under construction_canstockphoto48146180-5 760x320

Fort Pierce-based Lawnwood Regional Medical Center & Heart Institute, owned by Nashville, Tenn.-based HCA Healthcare, will invest $100 million into a five-story tower, according to TCPalm. 

Construction on the 92,500-square-foot tower is expected to start Jan. 11. It will be completed in several phases.

The first phase of construction, expected to be completed in 2023, will include building the first three floors of the tower. The first phase will add 32 medical surgical beds, three operating rooms and expanded preoperative and recovery areas.

Phase two will add a new emergency department, while phase three and four will add the fourth and fifth floor and create space for more beds.

The fifth phase includes building a 550-space parking garage.

 

Source:  Becker’s Hospital Review

/by

HCA Healthcare Acquires 55-Acre Land Parcel In Jacksonville For $16M

HCA Healthcare, the parent company of Memorial Hospital, has acquired a 55-acre land parcel in the Wildlight community of Jacksonville for $15.8 million. The property is located at northeast Interstate 95 and Florida A1A.

“This purchase will allow us to establish a future presence in Nassau County and to align with the planned growth in the region,” said Bradley Talbert, CEO of Memorial Hospital, in a statement.

Nearby the land parcel, Baptist Health acquired 26 acres at Florida A1A and Harper Chapel Road in May, and plans to build a 50,000-square-foot medical office building. Also nearby, UF Health Wildlight, a 23,331-square-foot medical office building, is currently under construction.

 

Source: Connect Florida

/by

Rieber Lands $36M Construction Loan On Florida Medical Office And Hotel Project

BridgeInvest, a lender based in Miami, has originated $36 million of construction financing to fund the development of a mixed-use commercial building in Aventura, Fla.

The property, dubbed Ivory 214 by its builder, Rieber Developments, will add nearly 40,000 square feet of medical office space and 11,000 square feet of retail in the Atlantic coast city, about halfway between Miami and Fort Lauderdale. It will also include a 100-room hotel operated under Hilton‘s Tapestry Collection brand.

The loan refinances prior debt that was provided by the same lender in 2017 for Rieber’s acquisition of the land, according to Alex Horn, one of BridgeInvest’s founders.

“We’ve had the opportunity to work with the borrower for an extended period of time,” Horn said. “They’re very capable of building this project, so we liked the idea of financing the construction.”

The ten-story medical building, which broke ground just over a year ago, is subdivided into office condominiums that Rieber is selling to health-care providers. Though the property won’t be open for business until early 2020, 30 out of 34 office condos have already been sold, the company said.

Meanwhile, the Tapestry hotel will cater towards extended-stay customers, with each room featuring a small kitchen. There will also be a pool, a fitness center, meeting space and a rooftop terrace, with the property operated by Driftwood Hospitality Management.

“Securing the construction financing for Ivory 214 is an especially proud moment and a key step in delivering this compelling project to Aventura,” Bernardo Rieber, a principal at Rieber Developments, said in a statement. “Today’s closing is an endorsement of the continued strength and market appeal of Ivory 214 as we continue our forward momentum.”

The development, at 2820 Northeast 214th Street, will stand a few blocks from Aventura Hospital & Medical Center, a for-profit hospital run by HCA Healthcare. Rieber is also working on a neighboring project, 1212 Aventura, which will likewise include office and retail components but will feature a senior-living complex instead of a hotel.

The South Florida city of just under 40,000 residents is notable to commercial real estate cognoscenti as the home of the Aventura Mall, America’s third-largest shopping center. Last year, Aventura Mall, which is co-owned by Turnberry Associates and Simon Property Group, pulled in one of the biggest retail debt deals in the country, a $1.75 billion single-asset CMBS loan from J.P. Morgan Chase, Deutsche Bank, Morgan Stanley and Wells Fargo.

Source: Commercial Observer

/by