NEW 470,000 SF HOUSTON METHODIST HOSPITAL COMING TO THE WOODLANDS

THE WOODLANDS, TEXAS — Healthcare system Houston Methodist has purchased a 57-acre tract in The Woodlands for the construction of a 470,000-square-foot, 193-bed hospital. The Howard Hughes Corporation and its wholly owned subsidiary, The Woodlands Development Company, will develop the property on the site, located south of the intersection of I-45 and State Highway 242. The campus, which will be modeled after Houston Methodist West near Katy, will feature a 135,000-square-foot medical office building in addition to the hospital. The entire project is valued at $328 million. The hospital is slated for completion in early 2015, with opening planned for 2017. The medical office building is slated for completion in late 2015. Robert Parsley and Coy Davidson of Colliers International represented Houston Methodist in the land acquisition. The new property will be the fourth hospital campus in The Woodlands and the eighth in the Houston Methodist system.