By Eric Althoff
DENVER—Dallas-based developer Fidelis Healthcare Partners has broken ground on the 100,000-square-foot Saint Joseph Medical Office Pavilion, located on the Denver hospital’s Uptown campus. The mixed-use project will offer both healthcare space as well as retail and restaurant space.
The groundbreaking took place June 5 at the northwest corner of East 18th Avenue and North Ogden Street in downtown Denver, with representatives from Saint Joseph Hospital and parent company SCL Health in attendance.
“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,” Jameson Smith, president of Saint Joseph Hospital, said in a statement about the strategic partnership. “This new space will provide the opportunity to better serve patients and the growing community around us.”
The Saint Joseph Medical Office Pavilion will entail three floors dedicated to Class A medical office space, with the ground floor being reserved for retail and restaurant outlets. Ground-level covered parking for physicians and adjacent free parking for patients, tenants and visitors are also in the plans.
Additionally, an outdoor/indoor rooftop space will offer staff and visitors a unique view of downtown Denver and the Front Range of the Rocky Mountains.
“We feel incredibly fortunate to be teamed with Saint Joseph and SCL Health on this exciting project,” said Kevin O’Neil, president and CEO of Fidelis Healthcare Partners. “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.”
Saint Joseph Hospital opened its doors in 1873, making it the first privately operated hospital in all of Colorado. It is now the largest private teaching hospital in the Mile High City and offers specialized care in cancer treatment, pregnancy and childbirth and heart care. “Saint Joe” opened its $650 million, 375-bed acute care facility in late 2014, and it was rated by Healthgrades as one of America’s 50 Best Hospitals in both 2017 and 2018. Its clinical partners include Kaiser Permanente and National Jewish Health.
Parent company SCL Health is a nonprofit, faith-based system encompassing 10 hospitals in Colorado and Montana.
Developer Fidelis Healthcare Partners is a healthcare real estate venture established in September 2017. The firm works on the long-term ownership of hospital-sponsored medical real estate on campuses and in the communities they serve. The Saint Joseph Medical Office Pavilion will be owned by Fidelis Healthcare Strategic Partners, a joint venture that will be advised by investment firm Bentall Kennedy.
“Bentall Kennedy [has] supported our efforts to be aggressive in delivering a unique, multifaceted building with compelling economics,” said Mark C. Allyn, chief investment officer with Fidelis Healthcare Partners. “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 entirety of the medical pavilion is expected to be completed in July 2020.