Around the country, there is a lot of thought—and money—going into designing and building the hospitals of our near future. From glass-walled research facilities for catastrophic childhood diseases, to hospitals with more private rooms—and earthquake proofing, constructors are making it happen.
$1.9 Billion at St. Jude
To execute a massive $11.5 billion expansion into the research and treatment of catastrophic childhood diseases, St. Jude Children’s Research Hospital will be building, and renovating on its campus in Memphis, Tennessee. With a construction budget of $1.9 billion, St Jude will also hire a new vice president to direct capital planning and facilities management. Some of the construction work is already underway—and more is slated to begin over the next year. So is a flurry of other hospital renovation and expansion work across the country.
Going after important new projects? What’s exciting about the old way of getting, managing and monitoring the bid, performance and payment bonds you need? Oh, yeah, nothing, right? That’s why Colonial Surety’s taken the pain out! See for yourself while gearing up for the publicly funded projects coming your way.
With The Partnership Account® from Colonial, you’ll go after those new projects with confidence — knowing your bidding and financial information is secure. Plus, you’ll have instant, digital bid, performance and payment bonds—and a whole lot more.
Let’s get you going. It only takes a few minutes to enter your essential information for pre-qualification—and all companies that apply receive Dun & Bradstreet scores—for free! You can use those right away to help plot your path.
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Towering Efforts In Memphis—and Beyond
The first of the new facilities on the St. Jude campus is slated to open later this year: a $412 million research tower. With 625,000 square feet of space, the tower will double the existing research space at St Jude.
As Construction Dive reports, a flurry of hospital construction is getting underway around the country:
In the last several months, according to Becker’s Hospital Review, there were several hospital systems that announced, continued or completed $1 billion-plus projects. For instance, at the beginning of March, University of California Davis Health in Sacramento, California, announced a $3.75 billion plan to build a 16-story, 700-bed inpatient hospital that will replace the system’s current facilities, which don’t meet the state’s new earthquake safety requirements. The new building will double the hospital’s current space with the inclusion of more private rooms.
Meanwhile, in Michigan, ambitious construction has resumed on a new 690,000 square foot hospital facility in Ann Arbor:
“Michigan Medicine is eager to resume construction on this transformative new hospital. We know this new facility will allow more patients to access our care,” said Dr. David Miller, president of the University of Michigan Health System, in the statement. “We are often running at nearly 90 percent capacity in our current hospitals, so we are looking forward to 2025 when we expect this new building will provide us with additional state-of-the art and patient-centered care facilities.”
Get in on the action as big building opportunities are getting funded and launched around the country, Once approved for The Partnership Account® with Colonial, you’ll take advantage of game-changing services, designed specifically for contractors. For example, you’ll:
- Access a powerful online surety management system to issue bid bonds, order performance, and payment bonds, update work in progress, check your current and aggregate limits, view open and closed bid and performance bonds, and more.
- Clearly see your bonding limits, and always have direct access to our underwriter if you need the excess capacity to bid on a job.
- Use your private Owner’s Dashboard® for a personal window into your underwriting profile. Review the statistical analysis of your financial statements and free Dun and Bradstreet scores, profitability, and more.
- Protect the confidentiality of your bids—after all, no one’s in the middle when you do it yourself, right?
Yes Please Qualify Me For The Partnership Account® Today!
Colonial is built on reliability, affordability and dependability. Founded in 1930, we have proven long-term financial stability; we’re licensed in every single state in the U.S.; we are listed by the U.S. Treasury as an approved surety; and we’re rated “A” Excellent by A.M. Best – an accolade of which we are extremely proud. Let’s Partner!