Startup Healthcare Developer Wins St. Joseph Medical Office Building Contract
Fidelis Healthcare Partners has been selected to develop the five-story, 100K SF St. Joseph Medical Office Pavilion on St. Joseph Hospital’s Uptown Denver campus.
The new building will be on a 1-acre site at the intersection of Park Avenue, Ogden Street and 18th Avenue. Three floors will be dedicated to Class-A medical office space. The ground floor will house convenience retail and restaurants, and the rooftop will have wellness/fitness and entertainment space. The project also includes ground-level covered parking for physicians and an adjacent parking lot that will offer free parking for patients, visitors and tenant employees.
Fidelis Healthcare is a new healthcare real estate venture established by the leaders who previously built the Trammell Crow/CBRE Healthcare Services and Development business. The St. Joseph building is the company’s first project.
Fidelis Healthcare President and CEO Kevin O’Neil said while he is optimistic when competing for new development deals, as a startup company, he knows it is a challenge to be selected through a competitive request for proposals process.
“We were up against some strong, established national healthcare real estate development firms, as well as local firms — seven final bidders in all,” O’Neil said. “I think one reason St. Joseph selected our firm is because we brought a great deal of thoughtfulness and creativity to our development concept.”
For example, Fidelis developed a plan for how to build the best, most complete patient experience on a relatively small urban edge site. It also devised a solution for parking that would meet everyone’s needs and be included in the cost of development while still ensuring affordable rent for physicians.
St. Joseph Hospital officials said the medical pavilion, scheduled to be completed in the second quarter of 2020, will fill an important need. In addition to its new 375-bed St. Joseph Hospital, the campus has two medical office buildings totaling about 250K SF, but the campus is so popular that there is a waiting list for space and existing medical office buildings are 99% leased.
“The St. Joseph campus is strategically located in central Denver adjacent to the downtown business district, the [RiNo] area and many thriving residential areas,” St. Joseph CEO Jamie Smith said. “The new medical pavilion, with a mix of retail and medical office uses, will be a fantastic addition to our campus. The new space will be a key to our continued growth, which ultimately means more services and value for the growing central Denver community.”