"College Street Partners is a valuable strategic partner, and crafted a broad collaboration that helped us align our real estate assets with our long-term plans."

– Robert Kotsonis, CFO, Heywood Hospital

Case Study: Heywood Hospital
Services Highlighted:
Advisory – Capital

Background
Heywood Hospital is an independent, not-for-profit hospital, serving patients from a half-dozen communities for over 100 years. It’s acquisition of the former Winchendon Hospital in the 1980’s and further expansion of facilities and services throughout the 1990’s and continuing today has secured Heywood’s role as the regional healthcare provider of the future.

Problem & Opportunity
Heywood Hospital needed to relieve chronic overcrowding of its on-campus, acute-care facilities within well-defined financial parameters. They also wanted to correct functional deficiencies such as: adjacencies, patient throughput, and antiquated aesthetics.

Solution
College Street Partners (CSP) was hired to identify ambulatory clinical, physician office, and support functions, that could be separated from the acute-care facilities. CSP was tasked with designing a new, freestanding building to accommodate the relocated functions. During the process, CSP negotiated the complex acquisition of adjacent developable land from a state agency; this required an act of the state legislature. CSP also arranged third-party ownership of the new building to preserve hospital capital for core uses.

Result
Working with the hospital administrators, private physicians, abutters, community leaders and elected officials, College Street Partners crafted a master plan to:

• Design, build and finance new ambulatory care and medical office building
• Renovate and reassign freed floor space for acute-care uses
• Identify opportunity for the hospital to partner with community college in providing educational services for nurses and nursing students
• Draft legislation for land transfer