The temptation to construct a gleaming new hospital is always great for healthcare organizations looking to expand. Occasionally, however, an opportunity pops up for an organization to reclaim an existing facility and maximize its potential for both the organization and the surrounding community. One such transformation is taking place in Danbury, Conn.
The site of the former world headquarters of Union Carbide will see new life as a medical facility for Nuvance Health Systems, according to Healthcare Construction+Operations. The 220,000-square-foot building, The Summit at Danbury, is being redeveloped by general contractor Rizzo Companies to relocate 500 jobs to this Connecticut city from the greater New York area.
Constructed in the early 1980s, the property was purchased in 2018 for $17 million by developers Summit Development and Crestline Investors. At that time, the property was less than 20 percent occupied and needed redevelopment to bring it into line with modern tenancy needs. Accordingly, executives at Summit realized the property could be reconfigured into a healthcare-centric property that incorporated residential and educational uses and dining facilities.
Rizzo and its affiliates are pumping $20 million worth of improvement into the redevelopment and estimates the updates and Nuvance lease will increase the overall occupancy of the building to nearly 80 percent of the building’s total square footage. Further expansion would increase occupancy to near completion of the building’s space.
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