Four Hospital Systems Investing Billions into Houston
Almost $3.2B of healthcare development is underway or planned in Houston. Transwestern director of research Rachel Alexander broke down the astounding amount of development dollars flowing into Houston from hospital systems. (And these stats don’t even include the myriad hub-and-spoke community centers these systems have underway.)
1. Memorial Hermann
Memorial Hermann is in the middle of the largest construction undertaking in its history. That $1.1B represents only projects already under construction; it’s also invested $200M to its Woodlands campus over the past five years and has built numerous other MOBs and community clinics. Its biggest project is the $650M expansion/renovation of its TMC campus, which will deliver in 2019. A $168M new campus will deliver in Cypress in spring 2017, and 2016 will see the opening of campuses in Sugar Land, Katy, Pearland and The Woodlands.
2. Houston Methodist
Houston Methodist is spending $1B to expand and replace facilities between now and 2017. The biggest investment is a new $540M hospital tower on the TMC campus, but it’s also got a $328M campus under construction in The Woodlands and a $131M expansion of its Sugar Land campus wrapping up next year.
3. Texas Children's
Texas Children’s will be kicking off the $506M expansion of its TMC campus later this year, with completion in 2018. It’s also building a $360M campus in The Woodlands, which will deliver in 2017, and expects to break ground that year on a $50M project on the TMC West Houston campus.
4. CHI St. Luke's
A JV of Baylor and CHI St. Luke’s has filed building permits for a $65M expansion/renovation of its TMC campus, and is eyeballing a late 2015 start. Sans Baylor, CHI St. Luke’s is nearly complete with its $110M Springwoods Village campus. The system’s also investing up to $70M over the five-year span from 2014 to 2019 in other developments.