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Davis Carter Scott Grubb & Ellis MMC. Proposal for Loudoun campus Feb 25 2011. A health-care driven mixed use development for Loudoun, should have: On campus: medical ( Clinical, teaching) facility Significant research activity Athletic, aquatic centers
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Davis Carter ScottGrubb & EllisMMC Proposal for Loudoun campus Feb 25 2011
A health-care driven mixed use development for Loudoun, should have: • On campus: medical ( Clinical, teaching) facility • Significant research activity • Athletic, aquatic centers • Complementary commercial and lifestyle facilities • Performing arts center • Optimal location re: transportation • Phased development, so that each component just meets the market MMC’s project, at Loudoun Parkway South, or at International City, can provide it.
The medical facility- • Another hospital in Loudoun County is not possible nor desired • In the next 10 years, Hospitals and physician practices, as currently configured, are going to experience significant pressure to decrease revenues • MMC’s POAF with hotel provides a timely model.
Loudoun Parkway Center • 3,980,000 sq ft in four stages • Phase 1 (2013) • Medical facility 203,000 sq ft • 3 or 4 star hotel 175 rooms • Sports and health club , including aquatic center 90,000 sq ft • research park*- building 1 160,000 sq ft • Phase 2 (2015) • Commercial/research*- buildings 2 and 3, 160,000 sq ft each • Ground floor retail 93,100 sq ft • Research park, w/ wet labs**, 480,000 sq feet • Phase 3 (2016) • Research campus expansion 480,000 sq ft • Performing arts center 200,000 sq ft • Multifamily, or student and faculty housing 600,000 sq ft • Phase 4 (2018) • Hotel expansion to 400 rooms • Commercial in fill (320 ,000 sq ft) • Multifamily completion (600,000 sq ft)
Performing Arts Center Medical, hotel, sports ResearchPark Commercial Site 2
Advantages for Research, Pharma, Biotech & Similar Tenants • On-campus access to clinical facility with 1.5 MM patient-real-time EMR data base for clinical trials/research,, and to medical faculty for product development. • Financial: Build-out, equipment and IT provided to tenant in return for public-domain research and/or direct patient subsidy. Lease rate = $30/sq ft ( at 2007 construction costs). • Location: Intersection of 2 major regional transportati0n corridors. 5’ from Dulles Airport ; PRT to Metro Station • Delivery: phase 1 = 2015; phase 2 =2016 phase 3 =2017 phase 4= 2018
Proposed Investment/Development Scenario • Syndication , raise of all monies for Phase 1 ($171 MM) • Land purchased. • A&E completed, CON-exemptions obtained; • Buildings pre-leased, use feasibility done and flags obtained; • Construction starts • Phase 1 facilities are delivered. • Phase 2 facilities delivered • Phase 3 facilities delivered • Phase 4 facilities delivered 2013 2013 2014 2016 2017 2018 2019 2020 2020
The Development Team Syndication and Medical Development: Metropolitan Medical Care Inc, and Randall S Peyton MD Design-Build : General Contractor: Tompkins Builders Architects : Aaron McDonald (lead design) NY NY DCS Design, Tyson’s Corner VA Construction Management: Joseph M Cross Jr. Cross & Associates Hotel Management KELCO Management and Development Sports Facilities Management WTS International IT: Default EMR: MYSIS/Allscripts Integrators: Premier Systems Support Integration engine: Intersystems
