Lakeway Regional Medical Center

Lakeway Regional Medical Center – Opening March 2012

On Monday, I had the pleasure of hearing a presentation by one of the developers of the new Hospital being built in Lakeway. It is very exciting to hear about positive economic news. This medical complex will change everything about Lakeway- size, demographics, etc.

Here is what I learned:

54 acre site with:
(1) Hospital
(2) Medical Offices
(3) Selected Retail Space
(4) Hotel and Restaurant Space
(5) Day Care Center

Hospital:
• The only General Acute Care Level 1 hospital in the area
• Doctor managed facility
• Second largest hospital in Austin
• 8 stories
• Phase 1 (Opening March 2012) = 175 beds
• Phase 2 (lender approved, est March 2013 opening) = 250 total beds
• Phase 3 (as needed, expected within 3 years of original opening) = just under 400 beds total
• There are 5-7 jobs associated with one room (= 875 to 1,200 employees with the opening of Phase I)
• EMS will have their West Austin Central facility relocated to this hospital

Medical Offices
• 200,000 sqft of office space
• One building is already 100% leased
• Second building is 60% leased

Other Items of Interest:
• Based upon needs study for the area, even with the 200,000 sqft of medical space with the hospital, the area is still short 200,000 sqft of medical space
• Light Industrial Office space in Lakeway is 98% leased
• The hospital is expected to bring $2 million in tax revenue to Lakeway
• About 180 doctors are already planning moves to the area with plans to start setting up their office space around the first of the year. They will be here looking to buy homes and relocate in the June – Dec 2011 timeframe.

This new medical center is going to create a tidal wave of economic activity to the Lakeway area.

Cheers!
Lori
lori wakefield  realtor  keller williams realty lake travis  p 512.657.4455  f 512.697.8275 www.loriwakefield.com