RIVERSIDE, CA-Dallas-based developer KDC has signed a memorandum of understanding to develop March LifeCare medical complex at the former March Air Force Base, which was decommissioned in 1996. KDC is partnering with March HealthCare Development to construct Zone One, considered the gateway to the campus, and the first of 11 zones. Zone One comprises 35 acres and is entitled for 1.2 million square feet of building space with 2,900 parking spaces. It will include general and specialty hospitals, medical office buildings, outpatient services and an ambulatory surgery center.
Once the 11 zones are complete and the project is built out, the March LifeCare medical complex will comprise 236 acres and will house approximately six million square feet of health care related development, including a 550-bed hospital, medical buildings, a hotel, retirement community, centers of clinical excellence, ambulatory care facilities, a hotel, retail and training facilities.
The March Joint Powers Authority, a commission that represents the county and the adjoining cities, has been overseeing the redevelopment effort. In July 2010, March HealthCare Development broke ground on the new medical complex during a ceremony that included the demolition of the 16 remaining structures at the former base.
Nathan Golik, senior vice president and leader of KDC’s medical development division, is overseeing the venture on behalf of KDC. “We are constantly evaluating opportunities to partner with hospital systems to provide capital and development expertise in this rapidly changing healthcare climate,” Golik said in an announcement regarding the new agreement with March LifeCare, which is led by Don Ecker, its founder and chairman. “March LifeCare’s business model fits our strategy and will provide healthcare to an underserved market and redevelop one of California’s most recognizable decommissioned military bases,” Golik added.
According to Phil Dalton, chair of March LifeCare Medical Ventures, “KDC will become a key part of our integrated healthcare delivery system." Dalton noted that many hospital providers are looking at alternative models to finance their real estate needs, which is evidenced by the fact that 37% of hospitals in Southern California are owned by private equity, according to the Hospital Association of Southern California.
Plans for the $3.3-billion March LifeCare medical complex will include a wide range of health care services. KDC, March HealthCare Development and Riverside Medical Clinic are partnering to incorporate a quality hospital operator as they design an Accountable Care Organization including health plans that currently contract with Riverside Medical Clinic, a March LifeCare partner. Dr. Steve Larson, Riverside Medical Clinic chairman and CEO, said that the announcement of the ACO and hospital operator will become a critical part of University of California, Riverside Medical School’s desire to open in 2012.
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