Corpus Christi Caller Times Caller.com - Five Points area to gain medical office building

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Tuesday, October 26, 1999

Five Points area to gain medical office building
$5-million facility near Northwest Hospital will house specialty physicians
By Andrea Jares
Caller-Times

A Dallas company will build a $5 million medical office building near Northwest Regional Hospital at Five Points.
   The two-story, 34,000-square-foot facility is designed for the specialized physicians who are as a result of the expansion at Northwest Regional Hospital.
   The building is 85 percent leased with tenants who specialize in obstetrics and gynecology, family practice, cardiology, general surgery, pediatrics and pharmacy. The building is expected to be completed by July 2000.
   Cambridge Healthcare Development, which will build the project, is a developer, owner and manager of medical office buildings and health care facilities across the United States.
   Groundbreaking is set for Nov. 11.
   Restaurant turned clinic
   Folmar Construction is beginning to renovate a restaurant at 3945 U.S. Highway 77 into an urgent care clinic. Construction is scheduled to begin in 45 days, with completion expected by the end of the year, said Susan Grigsby of the Corpus Christi-based construction company.
   Expansion for Roundtable
   The Coastal Bend Business Roundtable has a new office and training facility at 8609 Up River Road. The newly renovated building will offer more space for training than the former space at the Mann Building, said Dick Myers, president of the Roundtable. It's also closer to the port industries.
   Half of the 7,000 square feet of space has been renovated to offer two training rooms. Eventually the space could be used to create more training rooms, Myers said.
   The Roundtable offers 80 to 90 training courses a year for area industries.
   Mortgage amendment
   Learn about reverse mortgages in Texas at www.texasreversemortgage.com
   This site is set up by the Texas Association of Reverse Mortgage Lenders to provide information about Proposition 2, the proposed constitutional amendment that would allow reverse mortgages, to be voted on Nov. 2. The Web site also has links to other sites that have endorsed the proposed amendment.
   If adopted, Texas would be the last state to allow seniors to borrow against the equity in their home.
   Networking with Realtors
   The Corpus Christi Association of Realtors is hosting its monthly meeting and networking session at the Corpus Christi Country Club. The meeting is from 11:30 a.m. to 1 p.m. Thursday .
   Attorney Bickford Shaw will speak about underwriting problems and the role of real estate professionals in expediting closings.
   Cost is $12.50 for lunch, payable to the association at 5250 Everhart Road.





Business reporter Andrea Jares can be reached at 886-3678 or by e-mail at jaresa@caller.com. On Real Estate is published every other Tuesday in the business section.

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