In an upcoming panel discussion titled “Healthcare Real Estate Development, Design & Construction: Not Your Father’s Healthcare Project,” experts, including Mike Conn, CEO of Meridian, will explore the changes and challenges that have impacted healthcare real estate development. Conn shares his insights, revealing that healthcare real estate is not immune to construction cost increases and labor shortages. However, unforeseen escalations have calmed down due to fewer supply chain disruptions. He also discusses the trend toward placing healthcare facilities in communities for consumer convenience and the opportunities it presents in terms of converting under-utilized or vacant buildings into medical office space. Conn adds that while repurposing buildings can be as costly as ground-up development, it offers the advantage of increased speed to market. He emphasizes the importance of conducting due diligence during conversions and addressing functional deficiencies. In terms of the impact of the pandemic on healthcare facility design, Conn highlights the need for flexibility in HVAC systems and building controls to handle airborne transmission. Connect Orange County and Connect Healthcare Real Estate will be held concurrently in September 2023.
Sources: Meridian, Connect Healthcare Real Estate