CREJ - Healthcare Properties - October 2017
Boulder Associates Architects designed the recently completed Jan Bishop Cancer Center at Yampa Valley Medical Center. The state-of-the-art facility, which serves patients and their families in Steamboat Springs and beyond, comprises 8,900 square feet. The cancer center was designed to replace an existing small and outdated facility into a modern, comfortable, healing environment. “It's about providing care to cancer patients in smaller communities without them having to drive to major cities, in a setting that assures them they are receiving world-class care,” said architect James Lenhart. The facility, completed in December, was constructed by Haselden Construction and opened shortly thereafter. The design team took advantage of the surroundings by building a large outdoor balcony for patients and their families to have a scenic place to relax, according to Boulder Associates. The infusion bays and family waiting areas are positioned to have views of the ski mountains and a fireplace warms the family waiting area. “We have created a warm, inviting and healing environment for patients facing potentially the biggest health obstacles of their lives, and all in a gorgeous mountain setting. Our intent is that healing power derived from nature intermixes with the treatment program to produce happier, healthier patients,” added Lenhart. St. Joseph to redevelop Tammen Hall into senior housing St. Joseph Hospital recently announced plans to redevelop historic Tammen Hall, in partnership with MGL Partners/Solvera Advisors, The Neenan Co. and St. Joseph’s parent organization, SCL Health. The building, located on the hospital’s campus at 1010 E. 19th Ave. in Denver, will become affordable, independent senior housing. The repurposed Tammen Hall is scheduled for completion in early 2019. The 52,000-square-foot, eight-story facility will feature 49 one- and two-bedroom rental apartments for income-qualified seniors 62 years of age and older. The building is currently being listed on the National Register of Historic Places by the National Park Service. St. Joseph Hospital recently sold the building to MGL Partners/Solvera Advisors as the project developer with The Neenan Co. serving as the design-build partner. “We are delighted to have identified a solution, as well as experienced development partners, to effectively reuse the space to meet a glaring need in our community – affordable living space for seniors on fixed incomes,” said St. Joseph Hospital President Jameson Smith. Originally built in 1930 as a nurse dormitory for Children’s Hospital, Tammen Hall was named after Harry Tammen, the first publisher of The Denver Post. The building was later converted to office space for Children’s Hospital until the hospital moved to the Fitzsimons Campus in Aurora in October 2007. Designated as a local historic landmark in 2008, the exterior and internal renovations will comply with National Park Service standards. Among the spaces to be preserved are a theater and a community room that will be available for neighborhood meetings and events, along with the historic entry and foyer. A rooftop deck will be added where residents will enjoy mountain and city views. “We’re thrilled to be contributing in this significant manner to Denver’s development,” said Kurt Frantz, development manager for MGL Partners. “There is a considerable need for housing that is not only designed specifically for seniors, but that is also affordable in Denver, one of the nation’s most competitive rental markets.” SCL Health has committed to making a substantial investment to finance the redevelopment. Additionally, MGL Partners/Solvera Advisors has received an allocation of 4 percent Federal Low Income Housing Tax Credits, received a loan from the Denver Office of Economic Development, and the project is one of 12 selected statewide for State Low Income Housing Tax Credits from Colorado Housing and Finance Authority. The project also will receive support through State and Federal Historic Preservation Tax Incentive program. “Just as we did when we rebuilt our new, world-class St. Joseph Hospital, we will work closely with our neighbors here in midtown to make sure they are informed and supportive of this project. We understand we have a role in ensuring this community is welcoming and vibrant – and redevelopment of Tammen is one more example of that commitment,” Smith added. “It’s rewarding to provide affordable housing options that truly allow seniors to remain actively involved in Denver’s lively community,” said David Shigekane, president of The Neenan Co. “We are honored to be involved in such a meaningful project that is tied both to Denver’s history and its future.” OZ launches design plan for latest phases of Eben Ezer OZ Architecture has launched its design plan for phases two through four of the Eben Ezer Lutheran Care Center–the next phases of the 10-step master plan for redesigning the 100-year old care center in Brush. Phase 2 involves designing the new short-term rehab and long-term skilled care facility, with the addition of two wings of 14 beds each. There also will be a small amenity node with a living room, a dining room, a country serving kitchen, as well as a physical therapy gym. Phase 3 includes more community-based improvements, with the addition of a commercial kitchen, receiving areas and staff areas for behind the scenes maintenance and management. Additionally, the fourth phase will add 28 skilled memory care units (14 on either side of the building) each with access to a shared living space. Here, residents with higher level of acuity will have the opportunity to enjoy a courtyard wandering garden and spa, with a more robust nursing component. The designs also have eliminated dead-end corridors, and increased security elements throughout. Last year, Eben Ezer selected OZ Architecture to complete the design of its two-story building. Spanning 54,000 square feet, the goal of the improvements is to increase the overall capacity and elevate the design of the existing campus, according to OZ. The new assisted-living and memory care building’s mission is to provide care to the surrounding rural community. What’s more, the nonprofit Eben Ezer Lutheran Care Center is the largest employer in the town of Brush. “This project has been particularly rewarding since it represents progress in senior living residential design regarding high levels of care and personal dignity,” said Jami Mohlenkamp, principal at OZ Architecture and head of the firm’s senior living practice. “As a nonprofit, community-oriented facility, these renovations are set to make a big impact on the small town of Brush, Colorado.” The new design involves rejuvenating and modernizing Eben Ezer’s assisted living services while maintaining the context of the existing campus and buildings, which notably includes a beautiful historic church in the heart of the campus. A traditional red brick exterior will coordinate with the existing property, and alternating exposure lap siding will ensure the new building blends with and reinforces the rustic farmhouse atmosphere. Construction for the property at 122 Hospital Road is slated to be completed in phases: Phase 2 is slated to be completed in first-quarter 2019; Phase 3 in the first quarter of 2020; and Phase 4 in first-quarter 2021. Urgent care facility sells for $708.72 per square foot The CareNow Urgent Care building in Aurora sold Oct. 3 at a price of $4.43 million, or $708.72 per square foot. The facility at 5620 S. Parker Road was sold by an unidentified seller. The buyer was represented by Jules Hochman and Justin Brockman of Pinnacle Real Estate Advisors LLC. Sable Care sells for $45,000 per licensed bed A New York-based health care real estate investor acquired the Sable Care and Rehabilitation Center in Aurora for $5.4 million, or $45,000 per licensed bed. The new owner will lease the 120-bed facility to a regional operator with an existing footprint in Colorado. Blueprint’s Christopher Hyldahl and Gideon Orion were the lead advisers on the transaction. Blueprint represented the seller, a publically traded, California-based real estate investment trust, for which the offering represented a strategic noncore disposition. A selective and confidential marketing campaign positioned the asset as a value-add play in which an operator with synergies in the region and local market could unlock substantial value, according to Blueprint. At the outset of marketing, trailing 12-month operational performance yielded $5.95 million in total revenue with overall occupancy at 56 percent. The Sable Care facility at 656 Dillon Way is located close to the University of Colorado Hospital and CU Anschutz medical campus. Northstar, Balfour partner on newly completed Stapleton facility Northstar Commercial Partners completed Balfour Senior Care’s latest senior living community. Northstar partnered with Balfour on the 63,000-square-foot, 74-residence location at 2979 S. Uinta St. in Stapleton. “This community and these residences are exceptional,” said Brian Watson, chairman and CEO of Northstar. “A heartfelt congratulations to all involved in making this possible, as it will be our local seniors who truly benefit from the quality of care and lifestyle Balfour will help provide here.” “The neighborhood and vicinity will benefit tremendously from this new addition,” added Don Marcotte, director of development at Northstar. “The Balfour Stapleton community will not only provide some of the best care in the state to its senior residents, it will also bring with it new jobs and opportunities to the area.” The facility, Balfour at Stapleton, will support residents who require assistance for day-to-day activities as well as individuals living with dementia and Alzheimer’s. In addition to Stapleton, Northstar is currently working to finalize another development for Balfour in Ann Arbor, Michigan, a $51 million, 151-residence where construction is expected to begin this year. Northstar also is ready to complete other senior care locations in Las Cruces, New Mexico, and Bloomington, Illinois, for another operator, and plans to continue its work in the senior living and care space throughout the United States. Howell completes first phase of renovation for Denver Health facility Howell Construction recently completed the first phase of a two-phase renovation for Denver Health’s Pavilion M ACUTE Center for Eating Disorders, which first opened in 2008, becoming the only medical inpatient eating disorder treatment program in the country. This project includes the renovation of approximately 23,000 square feet, consisting of 30 patient rooms, nurse stations, nourishment center, waiting room, equipment/supply rooms and mechanical/electrical rooms. Phase 2 of this renovation began in mid-June and is scheduled for completion in November. Howell’s extensive experience working in Denver Health’s occupied facilities set this project up for success, as they were faced with the challenge of constructing directly over an outpatient surgery center and below an active inpatient adolescent psychiatric unit, according to the company. RTA Architects was the architect for the renovation. Renovations complete at Kentucky Circle Village community Renovations are complete to Kentucky Circle Village, an 8-acre, income-restricted apartment community for seniors age 62 and older. The upgrades brought the community’s 172 homes up to date while ensuring continued affordability at the site for at least another 20 years. The $3 million project received financing from several public and private sources, including the Denver Office of Economic Development. Established by a group of local churches in 1959, Kentucky Circle Village consists of 125 single-story, semi-detached bungalows nestled along the loop of Kentucky Circle, just east of Colorado Boulevard. An additional 47 units were added within a multistory building in 2000. A total of 147 of the units are for seniors whose income does not exceed $35,280 annually (60 percent of the area median income). The remaining 25 units are leased at market rate to seniors. “We’re working tirelessly to make this a market and city that works for everyone, and it’s critical that we preserve the affordable housing options that exist today,” said Denver Mayor Michael B. Hancock. “We’re proud to play a role in improving the Kentucky Circle Village community, and in turn, extending affordability for residents today and well into the future.” Property renovations included storm door replacement, new roofing, siding and masonry repair, painting, improved exterior lighting, furnace replacement, installation of low-flow toilets and faucet aerators, and major upgrades and repairs to landscaping and drainage systems. Kentucky Circle Village is owned in partnership by Senior Homes of Colorado Foundation, Inc., a nonprofit organization (jointly owned by First Plymouth Congregational Church in Englewood, American Baptist Churches of the Rocky Mountains and Green Mountain Presbyterian Church in Lakewood) and tax credit investor Midwest Housing Equity Group. “We are thrilled to be able to continue our mission of offering affordable housing to seniors for even more decades to come, and certainly very thankful for our partners that made this renovation project possible,” said Julie Hoebel, executive director, Kentucky Circle Village. The OED provided $410,000 in financing to help support the preservation of affordable units at Kentucky Circle Village. Other public financing partners include the Colorado Housing and Finance Authority and the Colorado Division of Housing.