An existing building will be razed to make way for the tower. John Righetti, VP of strategic relationships for BHS, tells GlobeSt.com, the existing building has been gutted; demolition is slated for this March, and construction will begin this April or May. He says $127 million of the budget is slated for this building and it is expected to reach completion by the end of 2009 or early 2010.

Another component of the expansion is BHS's acquisition of the Morgan Building, located about a mile from the main campus. It is being converted into an outpatient delivery site with diagnostic testing and physicians' offices. Righetti says the acquisition and conversion cost is approximately $8 million. The first floor has already been converted into an obstetrics and gynecology office, and some physician offices, he says, "and we will relocate some cardiovascular functions there from the main campus."

Additional expansion will take place at the Benbrook Medical Center, which BHS opened nearly two years ago. In joint venture between the hospital and physicians, it provides outpatient surgery and will include a pain center and a wound center. Other parts of the budget, which Righetti says is still in some flux, will be devoted to information technology development that will link all outpatient and inpatient facilities and physicians through a single network.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.