Centura Health ~ St. Francis Pavilion & St. Francis Cancer Center

Colorado Springs, Colorado

Project Description

The St. Francis Medical Center’s (SFMC) St. Francis Pavilion is the fourth project Boldt is working on with Centura Health. The 75,000 sq. ft. on-campus project will be a medical office building, featuring endoscopy services and dedicated cancer center (St. Francis Cancer Center) attached. Boldt is serving as the owner and development partner in the project.

Boldt was selected for the development of this project after a competitive Request for Proposal process was run by Centura Health. Boldt’s aggressive cost of capital and partnership approach to develop ultimately led to Boldt’s continued partnership with Centura in the Colorado Springs market. The ultimate goal of the facility was to bring a key endoscopy partner to the campus at an expedited pace – given this schedule constraint, Boldt’s ability to take-on development and approvals risk to push the proj-ect schedule helped the project team ultimately break ground on-time.

Once the base project was underway, Boldt learned of Centura’s desire to bring a state-of-the-art cancer center to the St. Francis Medical Center campus. By utilizing Boldt’s aggressive cost of capital and ability to amend the existing PUD, Centura was able to add the cancer center program into Boldt’s MOB through a cancer center annex, and bring the cancer center program online 12-18 months faster than they otherwise would. Mixed specialties will includ: imaging, lab, gastroenterology/endos-copy, otolaryngology and allergy/immunology.

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Boldt's Role

Owner, Developer

Key Points

  • Due to the tight schedule demands, Boldt took extra risk on the groundbreaking for the project and moved forward to hit the project team’s overall schedule with 50% occupancy.
  • Accommodating an additional 20,000 sq. ft. of cancer center program part-way through the construction of the base MOB.
  • Centura’s desire to use this MOB as a tool to recruit and retain key physician relationships to SFMC.
  • Recruited a key specialty practice on-campus that prevented them from leaving the St. Francis Campus
  • Helped Centura bring their Cancer program online 12-18 months ahead of schedule by adding their program to our existing building part-way through construction, and adding a 20,000 sq. ft. addition to the project.
  • ​Boldt, while taking the development risk, made up to 49% of the building ownership available for physician investment.