Cost index
2024 location indices and
construction escalation
Examining nationwide construction costs, escalation values project the annual change in output costs from January to December 2024. CBI’s comparative construction cost index, with Washington DC as the base 100, tracks labor rates, material pricing, and market activity for each location. The infographic below looks at ongoing or upcoming projects in specific cities.
Below are some healthcare projects currently under construction
Through CBI’s comprehensive tracking of labor rates, material pricing, and market activity, we’ve created a comparative cost index with Washington, DC as the base 100.
Tallahassee, FL
Florida State University and Tallahassee Memorial HealthCare broke ground on a new, 140,000ft², $125 million academic healthcare center with resources that bridge the gap between academic research and patient care. The project will create about 1,200 jobs and is set to open in late 2026.
Terrell, TX
The Texas Health and Human Services Commission broke ground on their new 415,000ft² Terrel State Hospital this August. The $573 million facility offers 25 civil commitments, 50 maximum-security, 140 non-maximum-security, and 35 adolescent beds, slated to be completed in late 2027.
Fort Bliss, TX
The new 492,000ft², six-story El Paso VA Health Care Center began construction in late August, providing enhanced medical services to over 54,000 veterans. This new health center is designed to exceed LEED Silver certification and is anticipated to be completed in 2028.
Alexandria, VA
In September, Inova broke ground on two new state-of-the-art hospitals in Alexandria and Springfield, replacing Inova Alexandria Hospital. The facilities will have 192 and 110 beds, respectively, and are set for completion in 2028, enhancing healthcare access in Northern Virginia.