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Home / Construction/Development / 7 New Hospitals Open in 3Q21

7 New Hospitals Open in 3Q21

September 22, 2021 by Hilda Martin Topics: Construction/Development, Real Estate Financing/Capital Markets

Although hospital construction has certainly been affected by the pandemic, most of that impact has been on the expansion of existing hospitals, not the construction of brand new ones. As of 3Q21, 151 new and replacement hospital projects are under way – up from 139 this time a year ago. The pipeline of new and replacement hospital projects continues to increase and just this past quarter we’ve seen 7 of them open.

After more than 5 years of construction, the new Loma Linda University Medical Center opened in the beginning of August. This monster project cost $1.2 Billion and is just shy of 1 million square feet across 16 stories. Just a few weeks ago, Allegheny Health Network opened a new 160 bed hospital in Wexford, PA. Several Micro Hospitals also opened this quarter, including two in Wisconsin by Ascension. Keep track of this and more trends with a subscription to Revista!

Hilda Martin
Hilda Martin

Other Articles by Hilda Martin:

    • Physician Services PPI Not Following Inflation….yet
    • New Hospital Construction Picks Up
    • Strong Absorption in 1Q Pushes Occupancy Higher

Previous Post: « Cornerstone, KKR form a new joint venture partnership
Next Post: Physician Office Employment Almost Fully Recovered »

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