Partnership Bringing Healthcare to the Community of Mesquite
Dallas, TX (June 26, 2018) – A new sixty (60) acre master-planned wellness campus, known as The Verde Center at Peachtree, has received a formal green light from the Mesquite City Council to proceed. The Verde Center at Peachtree is a proposed mixed-use medical campus that will be strategically located on I-635 at the Gross Road exit, inside the Mesquite city limits. At full build-out, the development will consist of a state-of the art $250 million+ patient-centered medical campus. The mixed-use medical campus will create jobs and address the acute shortage of quality and convenient healthcare alternatives currently available in Mesquite and the East DFW Metroplex. Verde Center at Peachtree is being developed through a partnership between Ryan Companies US, Inc., Medical Campus Group, Lang and Company, and the Peachtree Foundation, with development financing being supplemented by financial incentives provided by the State of Texas and the City of Mesquite.
In connection with this public-private venture, the City Council voted to finalize a master development agreement involving the City of Mesquite and its TIRZ Board, the Medical Management District, and the Verde Center at Peachtree development team to assist in the creation of a thoughtfully planned village concept that will be conducive to the overall health and well-being of the current and growing 700,000 people who live within 30 minutes of this new development. According to a recent Dixon Hughes market feasibility study, in excess of 80% of that population is currently addressing their healthcare needs in other cities, which are less convenient due to increasingly excessive travel times.
“By attracting the best possible healthcare professionals, cost-effective wellness and healthcare services and localizing availability, we believe The Verde Center at Peachtree will have a positive lasting impact on the residents of Mesquite and surrounding areas,” said Jim Ray, President Medical Campus Group.
In its first phase Ryan Companies will continue discussions with multiple interested healthcare systems, along with complementary outpatient diagnostic and clinical operators, professional physician groups and other health and wellness related entities, to partner together on over 15 acres and up to 600,000 square feet of medical inpatient, outpatient and physician office facilities.
JLL has been selected as the exclusive leasing partner of the new health and wellness development. JLL healthcare brokerage lead Ryan H. Dale and Vice President Ruth Griggs are leading marketing and leasing efforts for the property. “The Verde Center at Peachtree will deliver an innovative, cutting-edge medical facility in a rapidly growing submarket that’s historically been underserved in the healthcare services sector” said Dale. “Ryan Companies has a robust development track record and stellar reputation. We’re thrilled to partner with them and play a role in welcoming the new wave of leading health and wellness practices and preventative medicine services to Mesquite.”
According to Yolanda Shepard, neighborhood lead for the adjacent 600+ member Rugel-Skyline Neighborhood Watch Group, “The community is extremely excited, and we welcome this project and see it as a good thing to happen for our community.”
“The growing demand for convenient and high quality healthcare alternatives in Mesquite and the East DFW Metroplex make The Verde Center at Peachtree important and viable for a variety of healthcare providers,” said Rich Couturier, Vice President of Development for Ryan Companies. “There are few markets in North Texas that have such a direct need for this type of medical and health and wellness campus. We look forward to developing this innovative, creative and cost effective mixed-use health and wellness campus for the community, and the generations that will follow.”
The project is designed to function as a walkable village with a 25+ acre amenity center that follows the banks of a year-round flowing creek that will include a series of healing gardens, walking trails, and other amenities; including a hotel and conference center, a fitness center, and a senior living community.
There is broad support in the community for the project. “We’re all in on this one,” commented Rev. Harry Lee Sewell Chairman of the Medical Management District.
Following the recent favorable vote by the Mesquite City Council, and its TIRZ Board, Dr. Sam Yang an industry leader with Galaxy Fiber Optics and Electronics acknowledged that he and his investment team have been closely following this project for some time. “We are very supportive of the concept of preventative wellness, and see this as a great opportunity to invest in the Mesquite community, and are excited to participate.”
Final planning is currently underway to begin the site work, mass grading and infrastructure improvements necessary to tie Peachtree Road with an internal traffic circulation grid, as well as the planned extension of the Freeway frontage road, using the bridge already completed by Lang and Company as the center-piece for those much-needed traffic circulation improvements.
Jim Lang, Chairman of Lang and Company, is the visionary behind this development. “It has been a wonderful and humbling experience to see the way our community and its leaders have come together to support what we believe is a tremendous opportunity to generate jobs while bringing these innovative healthcare opportunities to Mesquite, and beyond,” said Lang.
Ryan Companies anticipates final alignment with healthcare systems, outpatient clinical operators and multiple physician groups by the end of 2018. Construction is then anticipated on the initial phase in mid-2019.
About Ryan Companies US, Inc.
Founded in 1938, Ryan Companies offers comprehensive commercial real estate services as a national developer, architect, capital investment consultant, builder and real estate manager with a focus on bringing lasting value to its customers and the communities in which it works. Ryan market depth includes retail, industrial, healthcare and senior living. Ryan development and corporate build-to-suit work spans a wide range of product types including office, mixed-use, hospitality, multifamily housing and mission critical facilities. Ryan has nearly 1,300 employees in 15 offices and has completed projects in 39 states. For more information, visit ryancompanies.com.
About The Peachtree Foundation
The Peachtree Foundation is a 501(c)(3) tax-exempt public charity headquartered in Mesquite, Texas. Its primary mission is to work collaboratively with the public, private, professional, religious, academic and philanthropic sectors to implement otherwise unavailable options that promote the physical, emotional, and overall economic health and well-being of the Mesquite community.
About the Medical Management District
The Management District, (or the “MMD”), is a special district and political subdivision of the State of Texas that was created by the Texas Legislature in 2013. The purpose of the MMD is to promote the health, safety, and general welfare of the residents, employers, potential employees, employees, visitors, and consumers in the District and the general public. The MMD will implement and administer the public finance agreements required to develop and construct certain public infrastructure requirements for of the Verde Center Project, along with providing certain annual and on-going operational and maintenance requirements of the Campus..
About Medical Campus Group
Medical Campus Group is a Texas Limited Liability Company headquartered in Richardson, Texas that specializes in the development of mixed-use, walkable communities with a particular focus on public-private development and population health initiatives.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 83,500 as of March 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
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