Parkland selects Austin Commercial joint venture team for new hospital campus
Austin Commercial, one of the largest commercial construction management firms in Texas, has been named one of four construction managers awarded the $1.27 billion (project total) Parkland hospital. The $1.27 billion project includes an 862-bed hospital, outpatient center, office center and parking. In order to reduce the burden on taxpayers, the financing plan includes not only $747 million of combination tax and revenue bonds, but also $350 million from Parkland’s current and future cash reserves and $150 million in philanthropic dollars raised by the Parkland Foundation. The construction program is planning to break ground in 2010.
Austin Commercial will construct this project as a joint venture team with Balfour Beatty, H.J. Russell and Azteca Enterprises.