1/24/08

Swedish Acquires Issaquah Highlands Site for
New East King County Hospital

ISSAQUAH, WASH., Jan. 24, 2008 – Swedish recently completed an option agreement with Port Blakely Communities to purchase 17.88 acres in the Issaquah Highlands development in east King County. Swedish plans to build a 175-bed hospital and health complex on the property, located just off Interstate 90 (I-90) at Highlands Drive N.E. and “D” Drive in Issaquah. The purchase price was not disclosed.

“We chose the Highlands parcel based on location, access and infrastructure. Because it is part of a larger development, all the basic infrastructure is already in place, allowing us to quickly advance our planning efforts,” said Kevin Brown, Swedish’s chief strategic officer and chief administrative officer for services in east King County. “It is a site that is easily accessible and convenient for area residents, business people and anyone driving through that stretch of Interstate. The new hospital will serve as an eastside hub as we expand along the I-90 corridor.”

Swedish plans to start construction in 2010 and open the first phase of the facility with a minimum of 80 beds in 2012, growing to 175 beds by 2019.

“This is a fantastic site,” said Brown. “There are more than 100,000 people in the Issaquah and Sammamish area who deserve a first-rate medical center close to home.”

Swedish thoroughly evaluated two Eastside properties before settling on the Issaquah Highlands site. It also considered the 30-acre Gateway site along I-90, next to the Sammamish Club. Brown said that property was equally good, but not as far along in the entitlement process.

“Swedish’s new medical center will be an excellent addition to the Issaquah Highlands,” said Judd Kirk, CEO of Port Blakely Communities. “It fits perfectly within our vision for the entire community.”

Kirk added that Issaquah Highlands is an urban village with a wide mix of uses and amenities clustered in a pedestrian-friendly community. When completed, it will include roughly 3,900 homes, 3.8 million square feet of office, commercial and retail uses, schools, a fire station, parks, trails and other community facilities.

“In the new medical center, we plan to build on the success of our current freestanding emergency department and specialty center in Issaquah,” said Brown. “Since opening in March 2005, that facility’s focus has been on delivering exceptional care and enhancing the patient-care experience. It is organized, staffed and run to treat patients as efficiently as possible.” As an example, Brown noted that an average visit to the Swedish/Issaquah Emergency Department (E.D.) takes less than 90 minutes, versus the statewide average for hospital E.D.’s of four hours. And patients consistently rate their satisfaction with the Issaquah E.D. experience as one of the best in the nation.”

“Expectations for medical care are different today than they were 50 to 100 years ago when many American hospitals were built,” Brown said. “In the new Swedish/Issaquah Medical Center, we’ll be able to take full advantage of modern space-planning strategies and advanced medical and information technologies.”

Swedish selected Mahlum Architects to complete the first phase of programming and master-site planning for the hospital and health complex campus.

###

About Swedish

Swedish is the largest, most comprehensive nonprofit health provider in the Greater Seattle area. It is comprised of three hospital campuses – First Hill, Cherry Hill and Ballard – a freestanding emergency department and specialty center in Issaquah, Home Care Services, and the Swedish Physician Division – a network of about 40 primary-care and specialty clinics, including four in east King County (Issaquah, Pine Lake, Factoria and Crossroads). In addition to general medical and surgical care, Swedish is known as a regional referral center, providing specialized treatment in areas such as cardiovascular care, cancer care, neuroscience, orthopedics, high-risk obstetrics, pediatrics, organ transplantation and clinical research. For more information, visit www.swedish.org

About Port Blakely Communities

Port Blakely Communities is a subsidiary of the family owned Port Blakely Company that was founded in 1864. It applies the family values of integrity, quality, innovation and stewardship to the business of real estate. Working with neighbors, regulators and elected officials, Port Blakely Communities creates residential and mixed-use urban villages that embrace the principles of smart growth. In partnership with the region’s premier homebuilders, they create communities that are known for their quality construction, innovative design, small-town feel, and respect for the environment. For more information, visit www.portblakely.com

Media Coverage

• To read a related article published in The Seattle Times the morning of Jan. 24, click here.
• To read a related article posted on the Issaquah Reporter's Web site the afternoon of Jan. 24, click here.
• To read a related article posted on the Puget Sound Business Journal Web site on Jan. 25, click here.
• To read a related article posted on GlobeSt.com on Feb. 1, click here.