{"id":1004142481,"date":"2016-04-25T05:03:31","date_gmt":"2016-04-25T13:03:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004142481"},"modified":"2021-05-15T08:09:08","modified_gmt":"2021-05-15T16:09:08","slug":"iu-healths-mammoth-project-could-spur-housing-boom-in-indianapolis","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/iu-healths-mammoth-project-could-spur-housing-boom-in-indianapolis\/","title":{"rendered":"IU Health\u2019s Mammoth Project Could Spur Housing Boom in Indianapolis"},"content":{"rendered":"

By Adriana Pop, Associate Editor <\/em><\/p>\n

Indianapolis<\/strong>\u2013Project details are starting to emerge for Indiana University Health<\/a>\u2019s $1 billion plan to expand the Methodist Hospital at Capitol Avenue and West 16th Street in Indianapolis<\/a>.<\/p>\n

\"IU<\/a>

IU Health plans $1 billion medical center in Indianapolis<\/p><\/div>\n

Methodist\u2019s expansion plans call for a 500,000-square-foot ambulatory care building and 350,000-square-foot high-acute bed tower that together could house a total of 600 to 800 beds. The facilities are set to rise along Capitol Avenue, replacing two century-old structures. Meanwhile, the middle part of the hospital, which is also the newest, will be renovated.<\/p>\n

The state\u2019s largest hospital group<\/a> expects to begin the design phase later this year, the Indianapolis Business Journal<\/a> reported. Construction could start in 2017 and last through 2022.<\/p>\n

The project is part of a broader IU Health plan to maximize efficiency by closing University Hospital on the IUPUI campus, which will reduce its in-patient facilities in the city\u2019s core from three to two. The Methodist and University hospitals together comprise 1,200 licensed beds, but only 800 to 850 are occupied per day.<\/p>\n

Additionally, the project will bring a 250,000-square-foot education building, a 250,000-square-foot faculty office facility and a 100,000-square-foot research building. As part of the restructuring, all obstetrical and newborn care will be relocated from Methodist to Riley Hospital for Children on the IUPUI campus, which entails nearly 150,000 square feet of new inpatient and outpatient space. Upon completion of the expansion, University could reopen as a post-acute or rehabilitation hospital.<\/p>\n

According to Herbert Buchanan, president of Methodist and University hospitals, this massive project could bring much-needed redevelopment to the neighborhood, acting as a catalyst for its revitalization. Areas located south of West 16th Street and east of Senate Avenue that mostly consist of paved parking lots and green space could be the most attractive for residential development once the expansion begins.<\/p>\n

\u201cIt could be a live-where-you-work opportunity,\u201d Buchanan told 150 members of the Indiana Subcontractors Association in late March. \u201cThis whole region of Indianapolis could change.\u201d<\/p>\n

Image courtesy of IU Health<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

IU Health’s $1 billion project will include consolidating the Methodist and University hospitals\u2019 adult services into one academic medical campus in downtown Indianapolis. <\/p>\n","protected":false},"author":260,"featured_media":1004142482,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,1590,21754,13,21742],"tags":[],"class_list":["post-1004142481","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-indianapolis","category-medical-office","category-midwest","category-latest"],"acf":[],"yoast_head":"\nIU Health\u2019s Mammoth Project Could Spur Housing Boom in Indianapolis - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/iu-healths-mammoth-project-could-spur-housing-boom-in-indianapolis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IU Health\u2019s Mammoth Project Could Spur Housing Boom in Indianapolis\" \/>\n<meta property=\"og:description\" content=\"IU Health's $1 billion project will include consolidating the Methodist and University hospitals\u2019 adult services into one academic medical campus in downtown Indianapolis.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/iu-healths-mammoth-project-could-spur-housing-boom-in-indianapolis\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-04-25T13:03:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T16:09:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/IU-Health-Plans-1B-Medical-Center-in-Indianapolis.png\" \/>\n\t<meta property=\"og:image:width\" content=\"836\" \/>\n\t<meta property=\"og:image:height\" content=\"612\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/iu-healths-mammoth-project-could-spur-housing-boom-in-indianapolis\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/iu-healths-mammoth-project-could-spur-housing-boom-in-indianapolis\/\",\"name\":\"IU Health\u2019s Mammoth Project Could Spur Housing Boom in Indianapolis - 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