• Skip to main content
  • Skip to header right navigation
  • Skip to site footer
  • Blog
  • Free Resources
RevistaMed

RevistaMed

  • About
    • Meet Revista
    • Advisory Board
    • Partners
    • Press
    • Rising Leaders Council
    • Sponsorship
    • Contact Us
  • Events
  • Why Subscribe?
    • Featured Products
    • Business Development
    • Underwriting & Due Diligence
    • Asset Management
    • Capital Markets
    • Site Selection & Development
    • Leasing
  • Subscriber Login
Home / Construction/Development / California is #1 in the Nation in Hospital Construction!

California is #1 in the Nation in Hospital Construction!

February 13, 2015 by Mike Hargrave Topics: Construction/Development

Revista recently held a webcast on the California medical real estate market and revealed that the Golden state is the far and away leader in hospital construction across the nation. As of the end of 2014, there were 62 hospital construction projects that Revista had identified in the state of California that were either underway or in late planning.  Revista tracks healthcare construction projects that are well defined, are classified as expansions, replacements or new hospitals, and are in excess of $5 million in value.  These 62 projects equate to almost $12.4 billion in value which is 123% more than the next closest state, Texas.  Many of the projects are being driven by California’s hospital seismic safety law, SB 1953 which was passed in 1994 and which generally requires all hospital buildings to operate as normal during a severe earthquake.  Mark Toothacre, president of Pacific Medical Buildings, said during the webcast that he has yet to see an existing California hospital that can be retrofitted to meet the new requirements.  Among hospitals opening this year will be the New Community Memorial Hospital in Ventura County.  This is a $273 million, 325,000 square foot project that will include an expanded Emergency Department as well as enhanced critical care units and surgical suites.  The Revista construction database covers over 900 in progress healthcare projects nationwide comprising over $80 billion of value.  Projects can be searched through a subscription to Revista’s revolutionary healthcare real estate database.  Please click here to sign up or for more information.

California Hospital Construction Ranks #1!
California Hospital Construction Ranks #1!

 

 

Mike Hargrave
Mike Hargrave

Other Articles by Mike Hargrave:

    • Lenders to the Medical Office Sector Signaling Caution, Lower Volumes
    • Inflationary Pressures Impacting the Revista MOB Industry Fundamentals Report
    • MOB Transaction Volume Sets Quarterly and Annual Volume Records in 1Q22

Previous Post:Ventas Completes Merger of HCT, MOB cap rate at 6.2%!
Next Post:3 Things You Should Know About Revista

Sidebar

Topics

  • Construction/Development
  • Industry News
  • Leasing/Property Management
  • Mergers/Acquisitions
  • Policy/Legislation
  • Real Estate Financing/Capital Markets
  • Revista Best Practices
  • Revista News
  • Sponsor Spotlight
  • Transactions
  • Uncategorized

Recent Posts

  • MOB Transaction Volume Cools in 4Q, Cap Rates Creep Up
  • Rehab Hospital Projects Maintain Strong Pipeline
  • MOB Construction Off Recent Highs in 4Q
  • The Fed’s Expectations for 2023
  • Construction Starts have Remained Strong in Select Markets

Archives

Upcoming Events

  • There are no upcoming events.

Other Free Resources

Industry Directory

Search for and/or list your medical real estate services in Revista’s medical real estate directory.

Reports & White Papers

Download free reports & white papers on medical real estate.

Add Lease/Sale Listing

Revista provides free lease/sale listings for healthcare real estate.

Ready to Schedule a Demo?

Get in Touch Now
  • Why Subscribe?
  • Events
  • The MOB Scene
  • Add A Directory Listing
  • Add Lease/Sale Listing
  • Contact Us
  • Sponsorship
  • About
  • Terms of Use
  • Press

SIGN UP FOR MOB SCENE NEWSLETTER

  • Twitter
  • Facebook
  • LinkedIn