Estimated to begin a phased opening in 2027, the 26-story Centennial Tower at the Texas Medical Center will have a larger emergency department, new imaging services and add 400 patient beds. The past several years have been a flurry of new construction for Texas Medical Center properties, including a massive expansion for the Medical Center itself.
While hospitals have been setting up innovation programs for years, the efforts took on a new focus as the healthcare industry eyed consumerism and pushed to create new care models that engage patients at home and outside of the hospital. They’re expensive projects, usually involving investments in real estate and hiring staff to run the programs.
The medical office park project aims to build upon the area’s existing community of doctors in the rapidly growing community west of Fort Worth. Willow Park is the second-largest city in Parker County, an area that saw its population increase by 27% between 2010 and 2020,
The 60,000-square-foot Frisco Medical Pavilion II will be located at 12950 Dallas Parkway near the Texas Health Frisco hospital. Construction is set to start midyear with an opening in the summer of 2023.
There seems to be nothing but good news to report about HRE space. To start with, MOB sales in 2021 – despite the lingering of the COVID-19 pandemic – broke the all-time record for volume at $17.4 billion, topping the previous record of $15.4 billion set in 2015. In addition, occupancy rates increased significantly last year, absorption of MOB space is as strong as ever,