IN PROGRESS: Smilow Cancer Center

[HartfordTycoon]

We never had a thread started about this, so here it goes in case anyone is interested.

Conn Business Journal

Smilow Cancer Center

The "skin of the building is up to the 11th floor" of Yale New Haven Hospital's new 14-story, 497,000-square-foot Smilow Cancer Center at Park Street and South Frontage Road, according to spokesman Vin Petrini, the hospital's senior vice president for public affairs.

"As we're building up, we're also building out," Petrini says. A "phased in" opening will begin in October 2009 and culminate with a "fully open" hospital in March 2010.

Fusco Corp. has started work on 55 Park Street, a $92.8 million, six-story, 146,000-square-foot medical laboratory office building with retail and a pedestrian bridge connecting it to the cancer hospital.

Financing is nearly in place for another support building for Smilow, an 845-space garage at 2 Howe Street wrapped by street-level retail, medical offices and 24 residential units.

"Two local Connecticut banks have joined together to provide financing for the $50-million-plus project," in a deal expected to close by mid-January 2009, says Paul Nasser, chief financial officer and COO of Intercontinental Real Estate Corp, the Boston-based developer.

Gilbane Inc. currently is erecting the steel skeleton of the so-called "Lot E" project, which is adjacent to the Pfizer Clinical Research Unit and should be completed by the end of the first quarter of 2010.

The property will be leased in its entirety by Yale-New Haven Hospital (YNHH), which has agreed to acquire the property 36 months after completion of construction.

"Deals like this, where you have almost a build-to-suit situation with an institutional client, are still being done," Nasser says. "Traditional spec construction, condo development and single-family housing are not being done right now."

Petrini says YNHH "went out to the bond market before the turmoil this fall" for financing for all three projects (Smilow, 55 Park and Lot E), which are "moving along on time and on budget.

"We've been very fortunate, but we're obviously is monitoring the financial situation very carefully," he adds.

[The Voice of Reason]

14-story, 497,000-square-foot Smilow Cancer Center

55 Park Street, a $92.8 million, six-story, 146,000-square-foot medical laboratory office building with retail and a pedestrian bridge connecting it to the cancer hospital.

support building for Smilow, an 845-space garage at 2 Howe Street wrapped by street-level retail, medical offices and 24 residential units.

Edited December 9, 2008 by The Voice of Reason

[The Voice of Reason]

I saw an ad for the cancer center on TV last night. the building looks done, and I guess some soft openings might be happening sooner than the OP stated. I think there was even a date in the add but I forget it