The Beacon - Permian Basin

Background

The Permian Strategic Partnership (PSP) Healthcare Committee is committed to increasing local access to quality healthcare for communities in the Permian Basin in collaboration with local stakeholders and institutions, including universities, regional hospitals, local foundations, and philanthropies.

Challenge

The Permian Basin currently ranks near the bottom in national averages for healthy communities. Significant issues exist due to a lack of access to quality care and outmigration. The PSP engaged the Hammes team to assess development opportunities in the region that would transform life in the Permian Basin.

Solution

A core team directed by Hammes was engaged to accomplish master planning, capital costs, tax impact, and other financial assumptions for the purposes of producing a financial pro forma and developing capital formation scenarios for development in the region.

A 500+ acre development, known as The Beacon, is now underway to bring healthcare, higher education, and research to the Permian Basin. The Beacon will include mixed-use components, such as housing, hospitality, entertainment, and retail. When completed, The Beacon will increase access to care through state-of-the-art medical facilities, provide training for new healthcare workers through partnerships with local colleges and universities, and address housing shortages through a range of residential choices. It will serve as a catalyst for change that leads to a more diversified economy and a healthier, more stable workforce for generations to come.  

The Hammes team is currently serving as the master developer for development activities, including infrastructure development.