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News Releases
Houston's
Largest Commercial Construction Project to
Break Ground
New
Generation Healthcare Environment In Heart Of Medical Community
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Ready
with their shovels for the upcoming day of groundbreaking
for the new Memorial Hermann Medical Plaza is (l-r):
Juanita Romans, Sr.
VP of Memorial Hermann Healthcare System and CEO, Memorial
Hermann Hospital; Walter M. Mischer,
Jr., President of Mischer Healthcare Services; Dan
Wolterman, President & CEO, Memorial Hermann Healthcare
System; and Marshall Heins, VP of Construction, Real Estate
and Support Services, Memorial Hermann Healthcare System.
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Houston,
Texas, September 23, 2004 -- The
city's largest commercial construction project currently
underway is also Memorial Hermann Healthcare System's most
recent contribution to Houston's medical community. Scheduled
to break ground in September, Memorial
Hermann Medical Plaza, the
first such project to be built in the Texas Medical Center (TMC)
in 13 years, ushers in a new generation of professional healthcare
space.
Developed in partnership
with one of Houston's
leading health care developers, Mischer Healthcare Services, Memorial
Hermann Medical Plaza represents a capital investment of $155 million
and will be the largest medical office building in the TMC. The Houston
office of Holliday Fenoglio Fowler arranged a $117.5 million construction
and permanent loan provided by Teachers Insurance and Annuity Association
and GMAC Commercial Mortgage Bank. JP Morgan Chase provided supporting
Letters of Credit.
The facility,
created by health care experts who understand today's
medical needs, will be comprised of over 500,000 rentable square feet
and a 2,400-vehicle parking garage to serve the project and Memorial
Hermann Hospital. Office space alone will house up to 200 physicians
from its premier location at the gateway to the Texas Medical Center
on the corner of Fannin and MacGregor Streets. The site's location,
with unobstructed views of Rice University to the west, downtown to
the north, Hermann Park to the northeast and the heart of the TMC to
the south and east, ensures a commanding visual prominence that will
not be compromised by future development. The wealth of services offered
includes a major, onsite Ambulatory Care Center with eight surgical
suites, four endoscopy suites, and a full-modality imaging center.
Upon opening, the Ambulatory Care Center will occupy 100,000 square
feet on two of the project's 30 levels. Plans for expansion will
occur at a later date as needed.
 Another two floors
on the lobby/concourse levels will be filled by retail shops, services,
and restaurants and will conveniently connect, via the gateway skybridge,
to the comprehensive resources of the prestigious Memorial
Hermann Hospital and Memorial
Hermann Children's Hospital,
making Memorial Hermann Medical Plaza Houston's ideal environment
for physician practices. Also easily accessible via the skybridge are
the University of Texas Medical School at Houston and the entire TMC.
"With its modern design, sophisticated construction, state-of-the-art
services, and skybridge access to the TMC's founding hospital,
this facility will be home to the best and brightest in Houston's
medical community,” stated Dan Wolterman, CEO of Memorial Hermann
Healthcare System. "It represents, once again, our system's
leadership commitment to innovation."
In addition to adding valuable, needed healthcare services in the
TMC, the project will positively impact the economy, creating 375 construction
jobs for the duration of the two-year construction period and 191 permanent
jobs upon opening.
For more information,
contact Media Relations.
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