Nashville-based hospital giant HCA Holdings Inc. officially dedicated its new building at 1100 Charlotte Ave. Friday morning, with a plethora of heavy hitters on hand to show off the new home of three HCA subsidiaries, anchoring the North Gulch’s Capitol View development.
HCA Chairman and CEO Milton Johnson was joined by Dr. Tommy Frist Jr., one of the company’s co-founders, as well as Mayor Megan Barry and Tennessee First Lady Crissy Haslam, in an event that included the unveiling of a portrait of another HCA co-founder, Dr. Tommy Frist Sr.
Frist Jr., speaking briefly in front of the portrait of his father, recalled visiting the North Gulch as a an 8-year-old while his father visited patients, and noted the lack of coal and smog in the air today as one of many dramatic changes in the area 70 years later.
By its size, scope and price tag, Capitol View is one of the biggest developments in Nashville’s real estate boom. Developer Boyle Investment Co., backed by investor Northwestern Mutual, is gearing up to build $215 million of mixed-use buildings, which represent the first two phases of its work. That’s separate from what HCA spent on its building and the roughly $70 million LifeWay Christian Resources is spending to build a new headquarters within the project (in both cases, Boyle sold Capitol View land to those entities). All told, if fully built out, Capitol View would entail 1.1 million square feet of office space, 130,000 square feet of retail, 600 apartments and two hotels with a combined 410 rooms.
HCA’s new building houses three of the company’s subsidiaries: health care business and operational consulting group Parallon, cancer institute Sarah Cannon and HealthTrust Purchasing Group, the system’s group purchasing organization. Representing a $200 million investment by the company, it’s expected to house about 2,000 employees.
“It’s a privilege to serve as a cornerstone of the revitalization of this neighborhood,” Johnson said during his remarks. He also described the building’s opening as the fulfillment of a vision crafted by Frist for a “corridor” of health care businesses along Charlotte Avenue. HCA’s corporate headquarters sit less than a mile and a half up the road, not far from the company’s TriStar Centennial Medical Center, the city’s Lenz Public Health Center and a variety of other health care organizations along Charlotte.
“It’s only the beginning folks,” Frist said. “The Charlotte corridor’s got an unbelievable future.”
Originally published in Nashville Business Journal
By Eleanor Kennedy