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Home / Construction/Development / CPMC Van Ness Campus to Open March 2nd

CPMC Van Ness Campus to Open March 2nd

February 27, 2019 by Hilda Martin Topics: Construction/Development, Industry News, Policy/Legislation, Real Estate Financing/Capital Markets

2019 is expected to be a big year in terms of hospital project completions and the Sutter CPMC campus on Van Ness and Geary in San Francisco is one of the largest deliveries. This campus is a brand new hospital and consists of 12 floors, 274 beds and almost a million square feet of space. CPMC Van Ness is not only one of the largest projects to open this year, but it’s also the most expensive, coming in at over $2 billion. Opening on Saturday, March 2nd, this project features some of the latest innovations in seismic safety technology. CPMC’s Van Ness campus is the first project in the US to use a specific technology called Viscous Wall Dampers which consists of steel plates that go through cylinders filled with viscous fluid to absorb the majority of energy generated by an earthquake. CPMC Van Ness is also built with the back up systems to sustain operations for up to 4 days independently should that become necessary after a seismic event.  CPMC also opened a new hospital last year to replace the aging St Luke’s campus. CPMC Mission Bernal is a modern facility also built to remain operational after an earthquake. Many existing hospitals in California have been forced to renovate or rebuild in order to meet new seismic safety requirements.

 

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National Recent and Expected Hospital Completions

Hosp Con

Source; Revista. Measures properties 7,500 SF and $2.5M in value or more and located in the 48 continental United States of America; Counts are Preliminary and Subject to Change

 

Hilda Martin
Hilda Martin

Other Articles by Hilda Martin:

    • MOB Transaction Volume Cools in 4Q, Cap Rates Creep Up
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    • Physicians Moving Away from Independent Practice, Monetizing their Real Estate

Previous Post:Are Larger Medical Office Buildings More Valuable than Smaller Ones?
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