Cobalt Medical Development, the Dallas-based private healthcare real estate development and investment company, broke ground on a new healthcare rehabilitation facility.
The $22 Million development will result in a state-of-the-art medical facility and rehabilitation hospital treating traumatic brain injuries, concussions, Parkinson’s Disease, in addition to other in- and out-patient services.
Cobalt will house 60 private inpatient beds, inpatient and outpatient programs and upscale hotel-like amenities. The hospital will be located on an exceptional site in the center of the Mid-City neighborhood, in a prime location for referral’s other medical facilities, including the new LSU Medical Center and Veteran Administration hospital currently under construction.
“The City’s economy is growing, we’re experiencing tremendous job growth while attracting knowledge-based businesses like Cobalt Medical Development,” said Mayor Landrieu. “Cobalt will create hundreds of new jobs for our citizens and bring a previously blighted property back into commerce. We welcome Cobalt to New Orleans and to our growing BioMedical Corridor.”
The new two-story physical rehabilitation hospital will be approximately 64,000 square feet. The first floor will consist of a full service kitchen, dining area, administration offices, materials management, loading dock, x-ray room, emergency room/department, lab, speech therapy area, lobby and a 16 bed Traumatic Brain injury unit. The facility will open in summer of 2015.
Construction of the project demands 165 construction jobs and the facility itself will create 165 permanent jobs in three years. The permanent jobs will range from physical therapists to speech therapists to nurses and nurse assistants. There will also be a number of employees in the food service industries and grounds maintenance.