Cranes dot the sky along the bends of the Dallas Medical District, marking a grid of signs marking the multibillion-dollar development.
Along with the Southwest Medical Tax Increment Financing District's timeline extension and expansion of locations, the city will use incentives to expand the major areas of Harry Hines Boulevard, West Mockingbird Lane, Inwood Road and Medical District Drive. This indicates a desire for further investment along the lines of the district. The site was once home to warehouses and light industrial buildings.
Healthcare, life sciences, and biotechnology projects tend to be expensive to build and require stimulus from tax breaks, subsidies, donations, and other government programs. But these local, state, and federal investments typically pay off because these projects create a strong pipeline of jobs from construction to delivery of hospitals and research facilities. It also facilitates the relocation and expansion of businesses, school systems, and even federal agencies.
Last year, Dallas won the U.S. home of the Health Advanced Research Projects Agency, a $2.5 billion federal biotechnology research agency. Located in Pegasus Park along the North Stemmons Freeway, the ARPA-H outpost will focus on customer experience, access, and clinical trial diversification.
Here are some of the largest projects currently underway in the Dallas Medical District.
Children's Medical Center Dallas and UT Southwestern Medical Center have partnered to build a $5 billion pediatric campus at the corner of Harry Hines and Mockingbird Lane. A completely new hospital on 34 acres. Dallas Children's Medical Center, Two 12-story towers and one 8-story tower span 2 million square feet. The number of beds will be 552 to accommodate future expansion. It is expected to be delivered within the next six to seven years.
State officials broke ground. Texas Behavioral Health Center at UT Southwestern The more than $482 million development, funded by the state of Texas, will feature 200 adult beds and a 96-bed pediatric wing supported by a separate $200 million gift from Children's Health. The facility will be the city's first state behavioral health hospital. The adult part of the facility is scheduled to open at the end of 2025, and the pediatric wing is scheduled to open in 2026.
New laboratories and research facilities Dallas County Department of Health and Human Services It is underway at the north end of the Southwest Medical District on Mockingbird Lane. Once completed, the 1.6-acre laboratory will serve as the county's primary public health laboratory. Construction costs are estimated at more than $50 million, and it is scheduled for completion in 2025. Funding comes from the federal government's American Rescue Plan Act and the Local Fiscal Recovery Fund.
Other notable projects:
The University of Texas Southwestern Medical Center and the University of Dallas Texas Instruments Biomedical Engineering Science Building The end of last year. The 150,000 square foot facility, costing approximately $120 million, will include both wet and dry laboratory space and a biodesign center with many features, including a metal fabrication shop and rooms for 3D printing. Equipped.
Dallas-based Larkspur Capital Partners recently acquired 9 acres of land at 1545 W. Mockingbird Lane that could eventually be used to build a mixed-use project. The development could include ground floor retail and apartments.
California-based medical real estate firm Alexandria Real Estate Equities has purchased vacant land along the northeast corner of Mockingbird and Harry Hines and is reportedly planning a medical campus there.
