- change ups
Metro Back On Track
Metro announced late last week that the financing needed to build the 208-room hospital, the focal point of the new
Turner Construction and the Christman Co. are managing the project. Steel Supply and Engineering will complete the structural work. Ritsema Associates will do the framing for the exterior walls and the fireproofing in June. Both are local firms.
Construction came to a halt last fall while Metro decided how to finance the project. Standard & Poor’s rated the fixed-rate bonds BBB, while the variable-rate bonds carried an S&P rating of A+. The fixed-rate bonds sold faster than initially expected and gave Metro $135 million.
“The market’s response exceeded our expectations and will go down as one of the most important events in the history of this institution,” said Mike Faas, Metro president and CEO.
The eight-story, 500,000-square-foot hospital will occupy about 60 acres of the 170-acre