The Philadelphia Business Journal recently celebrated the Best Real Estate Deals & Dealmakers of 2021. Penn Medicine’s Pavilion, a $1.6 billion, 17-story hospital building, was named the Deal of the Year. The project, built by a joint venture between GBCA member LF Driscoll and Balfour Beatty US and managed using Integrated Project Delivery (IPD), officially opened in 2021, after partially opening early to help increase available hospital beds during the pandemic.
From the Philadelphia Business Journal:
The project stands as the largest capital project undertaken by the University of Pennsylvania and among the largest health care projects in the United States. Once open, the Pavilion became an additional anchor among University City’s world-renowned research and medical institutions and furthers Philadelphia’s place as a hub of medical and health care innovation. …
The Pavilion stands as the first hospital in the country larger than 1 million square feet to achieve LEED gold certification from the U.S. Green Building Council. Foster & Partners, the architect, designed the 1.5-million-square-foot building with an eye toward meeting those standards and obtaining the designation.
Click below to learn more about why the judges named this project Deal of the Year, along with a full list of winners:
Other GBCA members involved in the project, include the following:
- Apache Industrial United
- A.T. Chadwick Company, Inc.
- Bayshore Rebar
- Berlin Steel Construction Co.
- Binsky & Snyder, LLC
- Burns Mechanical
- Chesco Coring & Cutting
- Dale Construction
- DM Sabia & Co.
- Hilti Inc.
- Jenkintown Building Services
- Madison Concrete Construction
- Med-Tex Services, Inc.
- Oliver Fire Protection & Security
- Paul Rabinowitz Glass Co., Inc.
- PDM Constructors
- Richard S. Burns & Company
- Roma Steel
- Shore Supply
- Smith Flooring, Inc.
- Steadfast Entities
- Superior Scaffold Services
- The Graham Company
- The Watson Organization, Inc.
- United Rentals
Photo Credit: Penn Medicine