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Feb. 25, 2013

Forest Park Medical Center Starts Construction on $140M Physician-Owned Hospital

By Camelia Bulea, Associate Editor

Forest Park Medical Center has started construction on its fourth hospital in the Metroplex, a 150,000-square-foot facility that is being built in southwest Fort Worth. The $140 million medical center will sit on an eight-acre site in the Edwards Ranch development.

The developer of the three-story project is Neal Richards Group. According to its Web site, the new center will include 12 operating rooms, two procedure rooms, 44 private patient beds, 10 ICU beds, full ancillary services and structured parking. The developer is targeting LEED Silver certification for this Class A surgical specialty hospital, which will also feature outdoor spaces, vegetated roof systems and an outdoor reflection pond.

With construction already started, completion is expected to happen by mid-2014, the Fort Worth Star-Telegram reports. When open, the hospital will employ about 300 people. Perkins & Will is the architect, while Balfour Beatty Construction serves as the general contractor.

The project is being financed with $30 million in private equity, Dr. J. Robert Wyatt, one of four founders of Forest Park Medical Center, told the Fort Worth publication. The remainder will be provided by a consortium of banks led by Texas Capital Bank.

Forest Park Medical Center also has under construction a hospital in San Antonio, which will open about the same time as the Fort Worth location. The company also operates locations in Dallas and Frisco, and will soon open a third one in Southlake.

Photo rendering of the Forest Park Medical Center at Fort Worth courtesy of Neal Richards Group.

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