We have the ability and the track record to produce exemplary and compelling projects across all asset classes. As a result, each location developed will undergo intense scrutiny in determining its highest and best use as we customize the project to maximize a sustainable yield.
Spring valley medical plaza
Spring Valley Medical Plaza commenced construction in October 2014, was completed in 2016, and is currently available for occupancy. It is located on the north side of Interstate 10 between Loop 610 and the Sam Houston Tollway in the heart of Houston’s most desirable and affluent corridor. It provides convenient access to the major hospitals in West Houston and Katy as well as the Texas Medical Center. Upon completion, Spring Valley Medical Plaza will provide 82,525 rentable square feet of Class A medical office development over a four-story parking garage. The project opened at near-stabilization through exceptional pre-leasing activity.
Northwest Medical Center
i3 Interests closed on the acquisition of the Northwest Medical Center Medical Office Portfolio in December of 2015. The three-building, 202,978 square foot portfolio is located on the campus of the Northwest Medical Center that is operated by Tenet Health Systems. The project was acquired at below-market occupancy and rental rates, and represents a significant value-add opportunity for i3 Interests. The hospital maintains a significant presence in our project and has made a commitment to the campus for years to come.
The proximity of these buildings to the hospital being located “on campus” positions the project as a very attractive long-term investment. The phased-rehab plan is underway and will include updated lobbies, landscaping, corridors, bathrooms, elevators, and internal building components, that will be followed by a robust rebranding campaign. Transwestern will provide both leasing and property management services on behalf of the project.
Lake Charles Hospital
Lake Charles, Louisiana
Lake Charles Hospital commenced construction in August 2016 and will open in the second quarter 2017. It is located on Nelson Road just south of Loop 210 situated in the middle of Lake Charles most dynamic commercial and residential corridor. It provides convenient access to both significant residential communities to the south as well as retail, corporate headquarters, and casinos to the north, as well as McNeese State University to the east. Upon completion, Lake Charles Hospital will be approximately 32,000 square feet providing both Emergency and In-Patient services and is fully leased by an established healthcare operator.
Legacy at Covell
i3 Interests is developing an 82,500 SF ShowBiz Cinemas in Edmond, Oklahoma which was ranked by CNBC as the #1 Perfect Suburb in 2014. The development will be situated in the middle of a large scale master plan development that includes a 100,000 SF Hilton Garden Inn and a 20,000 SF Convention Center already under construction. The ShowBiz site will also have two 1-acre pad sites available for sale or lease. Construction will commence in the 3rd Quarter 2017 with a 2nd Quarter 2018 scheduled completion date.
i3 Interests and Axiom Construction are entering into a public private partnership (PPP) with the City of Homestead, Florida to develop and operate a mixed use entertainment and community center. Homestead Station will include a 65,000 SF ShowBiz Cinemas, 30,800 SF of retail space, an 8 story 1,429 space public parking garage that will serve the City of Homestead Park-N-Ride, and the world’s first Cybrary, a 49,500 SF technology-driven public library, education, and entertainment complex. Construction will commence in the 2nd Quarter 2017 with a scheduled 2nd Quarter 2018 completion. The City of Homestead is contributing $33MM to the $51MM development and i3 is securing a loan for the remainder of the capital stack.