New hospital coming to Detroit (Birmingham: hotel, house, university)

[y2c313]

https://www.crainsdetroit.com/health...ospital-campus

Henry Ford Health plans to build a new $1.8 billion hospital in Detroit that will anchor a broad $2.5 billion development vision it is teaming up on with Detroit Pistons owner Tom Gores and Michigan State University that includes new residential, commercial and possible hotel space.

The projects mark a major move by Henry Ford to transform itself into a destination for health care and a major expansion of private equity billionaire GoresÂ’ investment in Detroit. If the full vision materializes, the scale of the redevelopment would rival plans for the $1.5 billion District Detroit and Dan GilbertÂ’s downtown projects in the re-shaping of an entire section of the city.


The existing hospital would continue to operate, but with fewer rooms and the building would likely house all or a portion of HFH employees currently working at One Ford Place.Most clinical care would be moved to the new hospital, which is expected to be completed in 2029 with a groundbreaking in 2024. The HFH and MSU research facility is expected to open in 2027 after a concurrent groundbreaking with the new hospital.
The project is not expected to add beds to the hospital system, which has 877 beds at its New Center hospital.
The redevelopment is a long-standing plan held by HFH management, largely developed under former CEO Wright Lassiter. Mark Barnhill, partner at Platinum Equity and leader of GoresÂ’ investments portfolio, told CrainÂ’s Lassiter and Gores created the vision for the new district on the back of a napkin at dinner at the Townsend Hotel in downtown Birmingham.
Riney said the $2.2 billion health care portion of the project would be funded by capital investment and philanthropic fundraising. Some large donors are prepared to aid in the funding, he said.