Monday, October 24, 2011

Nashville's Med Mart Not Opening in 2013

Posted By on Mon, Oct 24, 2011 at 12:00 PM

The competition.
  • The competition.

While Cleveland's own stab at a Medical Mart has hit a few PR potholes as of late — not in the least because of a certain weekly's well-received, much cited, and controversy-stirring cover story on the project, please excuse the naval gaze — our main competition in the arms race recently made an announcement that surely will get that project's haters shaking their heads muttering, “told ya so.” Whether that cynicism will bleed over into our own corner of the medical mart world, we shall see.

The Dallas-based developers of the Nashville Medical Mart say the downtown Music City project won't be opening by the date originally thrown around by backers, 2013. This report comes from MedCity News, although the original reporting is in the Nashville Business Journal, but they've fortified that sucker behind a paywall.

Anyway, the project is stranded on the drawing board because the developers have not been able to secure the 60 percent space commitment from vendors necessary to kick start construction. Unlike the publicly-supported Cleveland project, the Music City project will not get the financing off the ground until they hit that magic number. But suppliers haven't been as excited to lock into the space as first predicted. So far, they have about 35 percent of the potential space filled, including 6 tenants. More is cooking on the hot plate, they say.

For MMPI's Cleveland project, which is pushing dirt around as we speak despite the possible change in business plan, this announcement out of NashVegas means one thing for sure: In 2013, we'll be the only Med Mart on the block, which could go far in securing potential tenants. Obviously a smaller pool of options favors those who are still standing.

This also means in some hospital basement somewhere some X-Ray technician is banging his head against a panel because he was really hoping Defibrilation Fest '13 would be held in a location where he could grab a tan in March and catch a country show. Sorry man, you might be heading our way.

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