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— Health Care Properties Quarterly — June 2016
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City Spotlight
I
t’s no secret the metro Denver
region is one of the healthiest
in the United States due largely
to an active outdoor lifestyle.
Consequently, that lifestyle,
coupled with an aging population, is
forcing health and wellness topics
to the forefront of many discussions.
The Metro Denver Economic Devel-
opment Corp. estimates that by 2040
Colorado’s population age 65 and
older will double to 1.5 million. This
demographic shift, brought about by
the aging baby boomer generation,
will help numerous metro commu-
nities generate increased economic
activity in order to meet the growing
demand for both on-campus and
off-campus health services.
The health care industry will
reflect the impact of population
growth not only through additional
locations and services but also by
the upsurge in hiring of skilled
workers. According to the Metro
Denver EDC’s website, the health
care and wellness cluster currently
employs 202,550 workers at 19,450
companies in the metro Denver
area. Since 2010, this cluster has
increased an amazing 22.6 percent
in employment growth compared to
the still-robust growth nationally of
9.7 percent. In the past year alone,
this cluster grew 5.5 percent locally
compared to 2.9 percent nationally.
With the average wage for health
and wellness jobs in the metro
Denver area at $55,790 per year, it’s
apparent why this area is a hotbed
for new health care development.
Communities across metro Den-
ver are devising various strategies
to address the
increased demands
of this growing
issue. The city of
Thornton spe-
cifically, with over
130,000 people,
is expanding in
record numbers.
The anticipated
population at full
city build-out is
almost 250,000
people, all of whom
will need affordable
and convenient
health care options. The “continuum
of care” concept is one way Thorn-
ton is working to address this issue.
Continuum of care is a system that
guides patients, over time, through
the variety of their health care con-
cerns. Thornton is proud to be part-
nering with North Suburban Medical
Center and HealthOne to establish a
health care district. This district will
surround the existing hospital at the
southeast corner of Interstate 25 and
Thornton Parkway. Overall, 30 acres
of land currently owned by the city
will be available for development
as part of a 90-acre-total project
area. The vision for this district is to
become an area in which users will
have access to diverse services such
as assisted living, memory care, spe-
cialty medical offices and more.
The demographics of the area sur-
rounding the proposed health care
district lend themselves strongly
to health care development. North
Suburban Medical Center projects
that by 2019 total patient visits
will increase by 10.7 percent, 55- to
64-year-old patient visits will grow
19.7 percent and patient visits by
those 65 and over will surge a whop-
ping 35.5 percent. The surrounding
population has grown 3.53 percent
annually since 2000 and the average
household income sits at $81,204 per
year. The health care district cam-
pus offers occupants high-visibility
and easy access to both I-25 and the
136,000 cars traveling it past the area
on a daily basis.
Surrounding a well-established
hospital owned by a premier health
care group and having an estimated
123,191 people over the age of 50
living within a 5-mile radius, this
site is ready for health care develop-
ment. Because the 30 acres of avail-
able land in the district is owned by
the city, the project will go out to
a request for proposal in August in
anticipation of having a developer(s)
selected by the end of 2016. The
continued revitalization of this area,
along with the catalytic effect we
believe this project will have on
surrounding development, meets a
key priority for the Thornton City
Council. Additionally, the health care
district is located in both a state
enterprise zone as well as an urban
renewal area, providing potential
opportunities for city participation
in infrastructure development for
the right type of project.
The health and wellness industry
will continue to rise exponentially
over the coming years and all the
communities in the metro Denver
area will be working to come up
with ways to provide these much
needed services to their residents.
Thornton is very excited about the
planned health care district and
the potential opportunities it has to
have a real impact on health care
services in the years to come.
Source: Metro Denver Economic Devel-
opment Corp., Development Research
Partners
s
John Cody, CEcD
Economic
development
director, city of
Thornton
Thornton owns 30 acres of land that will be part of the 90-acre health care district.
