Overlake Hospital Medical Center

Background

Overlake Hospital, Group Health Cooperative, the City of Bellevue and the Washington State Department of Transportation approached Capstone Partners in the fall of 2003. The parties could not agree on entitlements, project scope or land acquisition strategies and processes. At risk was a Certificate of Need for Overlake Hospital, an agreement between Overlake Hospital and Group Health Cooperative for a $120 million out-patient facility, and the regional traffic plan for the City and the State.

Result

Construction commenced in June of 2005.

• Executed a Four Party Agreement defining the process.
• Negotiated size, location, and elevations of 10th street through the campus.
• Negotiated payment structure and cost methodologies for road construction.
• Enabled entitlements for $140 million Overlake Hospital Medical Center expansion, $120 million Group Health Cooperative facility, $40 million road, and $80 million office building.

Project Statistics

• Land negotiations and land entitlements for $380 million of healthcare and road projects.