DENVER – Residents of the Denver area will soon have access to more healthcare services, as well as new retail and restaurant options, thanks to the start of construction on the new 100,000-square-foot, mixed-use Saint Joseph Medical Office Pavilion on the Uptown Denver campus of Saint Joseph Hospital.
Dallas-based real estate development firm Fidelis Healthcare Partners, executives of Saint Joseph Hospital and its parent SCL Health, and local officials will participate in a groundbreaking ceremony at the development site at the northwest corner of East 18th Avenue and North Ogden Street on Wednesday, June 5, from 4 to 4:30 p.m.
The new Saint Joseph Medical Office Pavilion, which is expected to be completed in July of 2020, will include three floors dedicated to Class A medical office space. The ground floor will house convenient retail and restaurant venues. The rooftop will offer unique indoor/outdoor space and scenic views of downtown Denver and the Front Range. The project also includes ground-level, covered parking for physicians and an adjacent parking lot that will offer free parking for patients, visitors and tenant employees.
Kevin O’Neil, President and CEO of Fidelis Healthcare Partners, said “We feel incredibly fortunate to be teamed with Saint Joseph and SCL Health on this exciting project. When you add in the intangibles of what’s going on in the nearby downtown Denver market, and this project being the front door to both the virtually brand new Saint Joseph’s campus and the Uptown Medical District, it results in very special real estate with a great campus partner.”
Jameson Smith, President of Saint Joseph Hospital, said “We are excited to work with Fidelis Healthcare Partners on this development project that will bring new energy to our campus and the Uptown neighborhood. This new space will provide the opportunity to better serve patients and the growing community around us.”
Mark C. Allyn, Chief Investment Officer with Fidelis Healthcare Partners, said “The partnership theme carries over onto the capital side where we are renewing a long-standing relationship with Bentall Kennedy. They have supported our efforts to be aggressive in delivering a unique, multi-faceted building with compelling economics. In addition, tenants will be getting a strong value proposition through competitive rents on a brand-new building with free parking and many uses seldomly provided within the confines of the medical office building.”
The medical pavilion is the first major project of Fidelis Healthcare Partners, a healthcare real estate venture that was established in September 2017 by the same leaders who were instrumental in building the successful Trammell Crow Company/CBRE Healthcare Services and Development business. Fidelis Healthcare Partners is affiliated with Houston-based Fidelis Realty Partners Ltd., a real estate development firm with the biggest retail footprint in the Houston area and more than $3 billion in retail assets in the Southwestern United States.
The pavilion will be owned by Fidelis Healthcare Strategic Partners, a joint venture (JV) with a capital partner and major state retirement fund advised by Bentall Kennedy, a leading investment management firm and a longtime partner in previous ventures with Mr. O’Neil and Mr. Allyn.
The entire Fidelis development consulting team is Denver-based and headquartered. This includes architect Boulder Associates, contractor Saunders Construction, healthcare broker CBRE-Denver Healthcare Services, Legend Retail Group and Wellspring Consulting.
Saint Joseph is one of the leading medical campuses of SCL Health, a non-profit, faith-based health system with 10 hospitals in two states. Saint Joseph Hospital’s $650 million, 375-bed acute care facility opened in late 2014. The campus was rated one of America’s 50 Best Hospitals by Healthgrades in 2017 and 2018.
Some medical and retail space still remains available in the Saint Joseph Medical Office Pavilion. For information about medical office space, please contact CBRE-Denver Healthcare Services brokers Dann Burke, First Vice President, at dann.burke@cbre.com or 303-517-7787, or Naum Nasif, Senior Associate, at naum.nasif@cbre.com or 303-501-5748. For information about retail space, please contact Kelly Greene, President of Urban Legend LLP, kgreene@legendllp.com or 720-527-2983
Rendering courtesy of CBRE
