Strategy & Results
As a real estate partner for CommonSpirit Health’s expanding ambulatory footprint for more than a decade, Boldt worked closely with key stakeholders on several projects including a cancer center, health and wellness facility, Medical Office Building and more.
CommonSpirit Health aimed to enhance the health and well-being of the community by transitioning from a sick care model to a preventive care model and expanding its presence in the Front Range region. Boldt played a key role in realizing this vision through strategic site assembly, innovative partnerships and integrated physician recruitment while ensuring on-time and on-budget delivery in a competitive environment.
Site Assembly
Integrated Physician Recruitment
Innovative Healthcare Models
CLIENT
CommonSpirit (formerly Centura Health)
LOCATION
Canon City, CO
Colorado Springs, CO
Monument, CO
BOLDT ROLE
Developer
Owner
PROJECT SIZE
Various
MARKET
Healthcare
Project Details
The 75,000 sq. ft. on-campus project is a medical office building, featuring endoscopy services and dedicated cancer center attached. Boldt served as the owner and development partner on the project. Boldt was selected for the development of this project after a competitive Request for Proposal process was run by CommonSpirit Health. Boldt’s aggressive cost of capital and partnership approach to develop ultimately led to Boldt’s continued partnership with CommonSpirit in the Colorado Springs market. The ultimate goal of the facility was to bring a key endoscopy partner to the campus at an expedited pace – given this schedule constraint, Boldt’s ability to take-on development and approvals risk to push the project schedule helped the project team ultimately break ground on-time. Once the base project was underway, Boldt learned of CommonSpirit Health’s desire to bring a state-of-the-art cancer center to the St. Francis Medical Center campus. By utilizing Boldt’s aggressive cost of capital and ability to amend the existing PUD, CommonSpirit Health was able to add the cancer center program onto Boldt’s MOB through a cancer center annex, and bring the cancer center program online 12-18 months faster than they otherwise would have. Mixed specialties will include: imaging, lab, gastroenterology/endoscopy, otolaryngology and allergy/immunology.
St. Thomas More (STM) opened a new multi-specialty medical office building on its hospital campus in Canon City, Colorado. The goal for STM and CommonSpirit Health for the $12 million, 32,000 sq. ft. MOB was to increase access to health care and improve the overall patient experience for the Fremont County community. The St. Thomas More Hospital Medical Office Building was the third collaboration between CommonSpirit Health and Boldt, which serves as the owner/developer and property manager of the MOB.
Boldt served as the owner and development partner for CommonSpirit Health’s Broadmoor Neighborhood Health Center located in Colorado Springs, Colorado. The building is an adaptation of CommonSpirit Health’s “health neighborhood model,” which delivers optimal health care value to the community by focusing on wellness and prevention. Boldt shares this vision of healthcare in the future with CommonSpirit Health and the organizations have partnered on numerous wellness centers. The Broadmoor Neighborhood Health Center is a $13.5 million, 32,000 sq. ft. building that includes occupational health, urgent care, primary care, an imaging center including MRI and CT, an orthopedic group, and a rehab center.
Boldt has teamed with CommonSpirit Health’s Penrose-St. Francis Health Services and The YMCA of the Pikes Peak Region to bring the Tri-Lakes Health Pavilion to Monument, Colorado. The $15 million, 50,000 sq. ft. medical office building is connected to the current YMCA through a shared atrium. The integrated health and wellness facility was born out of the desire for Penrose-St. Francis to have a partner in the northern part of their market. Boldt, as owner and developer, initiated contact with the YMCA and, through its participation in the Joint Operating Committee, facilitated the process of determining how the organizations would work together and share services in the building. The integrated facility allows providers to better manage the population’s health and well-being.
