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windermere tri-cities

As the Tri-City area continues to grow so does our need for quality medical facilities.  We are happy to share this exciting news and look forward to seeing the new facility.  If you have any questions about the development around the new hospital please contact one our Windermere Tri-Cities agents in our Kennewick location at 509.783.8811.  Read below to see more details on the new hospital.

   

 

 

FOR IMMEDIATE RELEASE                                                                                      For more information:

April 20, 2012                                                                                                                     Heidi Taffera, (425) 269-9981

KGH COMMISSIONERS ANNOUNCE CONSTRUCTION OF NEW HOSPITAL TO BEGIN

KGH Commissioners today announced financing has been secured to begin construction on a new hospital at its Southridge campus, which will provide the community with a much-needed, long-anticipated new facility. The project is expected to begin next week and take up to 24 months.

“Our community has waited a long time for this announcement, and we know they are as excited by this as we are,” said Commission President Jim Mefford. “The Tri-Cities community continues to grow at a rapid rate. Plans for hundreds of new homes, apartments, a commercial district, retail and upscale restaurants and a multimillion-dollar sports complex in Southridge confirms the need for more health services close to home. Our new 74-bed hospital at Southridge, complemented by our 27-bed facility at Auburn, will ensure that we will be able to continue to provide quality health care services to this growing community close to home.”

The new Southridge campus also will house a medical office building with physician offices that will open shortly before the main hospital. The hospital and medical office building will occupy about half of KGH’s 40-acre Southridge property, which is located at the center of where much of the Tri-Cities’ future growth is expected to happen. With convenient highway access, the campus can be easily reached by people living in Benton and Franklin Counties, as well as Northeast Oregon.

The new hospital will be three stories high with nearly 200,000 sq. feet of space, replacing an outdated, cramped facility that is 60 years old. By updating and expanding its hospital facilities, KGH will be able to accommodate new technologies and replace overcrowded patient rooms with single-occupancy rooms. The size of the emergency department will increase from 14 to 27 rooms, the intensive care unit will more than double in size from six to 14 beds and surgery will have six rooms, in addition to the three surgical rooms that will remain in operation on the Auburn campus. The oncology and cardiology departments will be relocated to Southridge, as well as the Joint Replacement Center.

The Southridge campus is just three miles from KGH’s Auburn facility, which will continue to house its recently remodeled Family Birth Center and an expanded urgent care center. Current doctors will remain onsite, as will administrative offices.

 KGH also operates a third campus at the Medical Mall near the Toyota Center and Vista Field in West Kennewick. The Medical Mall offers ambulatory services, physician practices, outpatient surgery, as well as OP imaging, a retail pharmacy and a new, state-of-the-art Endoscopy Center.

The hospital is expected to cost up to $112 million to finance, construct and equip. It will employ about 250 family-wage construction jobs, with about 80 percent of those jobs going to workers living in the Tri-Cities area, and generate more than $7.6 million in local wages. Once built, the new hospital will create an additional 100 permanent, direct healthcare jobs. Currently, KGH employs 1,179 people, with an annual impact on the community of $87 million which includes payroll, benefits and taxes.

The new hospital facility is just one aspect of how KGH is growing its healthcare services to meet the community’s long-term needs. Over the past four years, KGH has hired 36 new physicians at KGH Physician Clinics, nearly doubling its medical staff to 80. KGH currently has over 270 providers on staff.  It has expanded services by systematically developing a network of urgent care and walk-in clinics, which served 40,693 patients in 2011. Its walk-in, after-hours pediatric clinic – the only one in the area – alone served 2,684 patients last year.

“We are excited about the plans to move forward,” said Commissioner Wanda Briggs. “Our new hospital, along with all the other services we offer, ensures that our community will have access to the quality healthcare it needs and deserves. This project also will continue to ensure that residents in the Tri-Cities will have a choice of healthcare providers and we believe that is of great benefit to our area. We are so proud of the partnership we have with our district residents, and the support they offer us.”

“KGH has a compelling growth story,” said Tom Baker, Chairman of C.D. Smith Construction, Inc., the general contractor and financier for the Southridge project. “The community is rapidly growing and demanding availability of quality, health care services close to home so people don’t leave the community to receive care. We recognize that KGH needs to expand in order to continue to deliver quality care to the community.  From the beginning, we knew KGH represented an attractive project management and investment opportunity.  It has a solid track record in the region, not only in terms of management and operations, but also in its deep relationships with the community it serves. We are pleased to participate in this exciting project.”

C.D. Smith Construction Inc., founded in 1936, is a large privately held construction firm with an area of expertise in building state-of-the-art healthcare facilities nationwide. 

“We developed a financing structure that allows KGH to own the hospital operations and the hospital license. We will lease the building from the private investor group and have the opportunity to buy it in 10 years. That is what we intend to do. This is a model that works well for us and one that we can afford. It also allows us to free up capital to enhance services at the same time,” said Glen Marshall CEO at KGH.

Private sector financing is commonly used in the health care industry from publicly traded hospitals to community-owned facilities.  KGH worked with Healthcare Development Partners, one of the nation’s largest, privately held, full-service, design-build, healthcare real estate companies, to secure a private investor group to finance and build the hospital. HDP has successfully developed more than $1.5 billion in healthcare real estate for a variety of clients. 

Sincerely,

Glen Marshall

Chief Executive Officer

Kennewick General Hospital

900 South Auburn Street

Kennewick, WA 99336

 Work:  509.586.5827

Cell:    509.378.9347 

Fax:     509.586.5892

email: glen.marshall@kphd.org

web:   kennewickgeneral.com

 
 
Filed under: General
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windermere tri-cities

More good news coming from the Fannie Mae National Housing Survey of 2012.  Although the Tri-City market has stayed strong through the many ups and downs of the National Housing Market news, it is always beneficial to hear the overall morale of the nation is rising as the housing market stabilized, this news will only continue to strengthen what is already a consistent and stable market in the Tri-Cities area.  Contact a Windermere Tri-Cities agent to find out the latest local market information, 509.783.8811. 

Consumer Attitudes Stabilize, Positivity Spreads

Posted By susanne On March 14, 2012 @ 3:56 pm In Business Outlook,Consumer News and Advice,Finance and Economy,Real Estate Trends,Today’s Marketplace,Today’s Top Story,Today’s Top Story -

 Americans’ concerns about key economic and housing issues are beginning to subside, according to results from Fannie Mae’s February 2012 National Housing Survey.

Consumers’ attitudes have stabilized across most indicators—including personal finances, housing, and employment—demonstrating their sense that downside risks have abated somewhat compared to late summer and fall of 2011.

While Americans’ confidence in the direction of the economy has been the most pronounced (35 percent think that the economy is on the right track, (more…)

 
 
Filed under: General
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windermere tri-cities

The National Housing Survey is once again showing the strength of home ownership versus renting.  Although Windermere Tri-Cities understands there is a need for both buyers and renters, and that is why we have a entire division of our company that can help you with your  property management/renting needs.  As well as 50+ highly skilled and trained agents that are actively working to stay in tune with what our local market is doing. Windermere Tri-Cities is here to help and guide you through the buying or renting process and we have professionals to help you all along the way.  For all your buying or renting questions contact a Windermere Tri-Cities agent today and find out what our local market is doing.  Call 509.783.8811 we are here to help you with all your real estate needs! The article below summarized what the National Housing Survey is saying for 2012, check it out.

National Housing Survey 2012

Posted: 04 Apr 2012 04:00 AM PDT

Each quarter, Fannie Mae releases their National Housing Survey. They survey the American public on a multitude of questions concerning today’s housing market. We like to pull out some of the findings we deem most interesting each time it is released. Here they are for the most recent report:

84% of the general population believes that owning a home makes more sense than renting.

The Most Important Reasons to Buy a Home

When we talk about homeownership today, it seems that the financial aspects always jump to the front of the discussion. However, the study shows that the four major reasons a person buys a home have nothing to do with money. The top four reasons, in order, are:

  1. It means having a good place to raise children and provide them with a good education
  2. You have a physical structure where you and your family feel safe
  3. It allows you to have more space for your family
  4. It gives you control of what you do with your living space (renovations and updates)

The Home as an Investment

Though most people purchase a home for non-financial reasons, everyone realizes there is a money component to homeownership. Here is what they said on this issue:

  • 63% of the general population believes that homeownership is a ‘safe’ investment.
  • 53% believe that homeownership has more potential as an investment than any other traditional asset class.

Rent vs. Buy

We are always interested in the difference people see in renting vs. owning.

  • 64% of renters have aspirations to someday own their own home
  • 70% of renters think that owning is superior to renting

Bottom Line

Our belief in the value of homeownership grows each time this survey is released.