Stamford Health System changed its timetable for completing a new Stamford Hospital, opting to complete construction in a single phase by the spring of 2016. The organization expects construction to cost $450 million under the new timetable, versus the $575 million it had estimated for a multi-phase construction project that could have lasted as long as 15 years. "The rationale behind this decision included consideration of the hospital's strong financial performance, favorable interest rates, as well as the overall cost savings to complete the plan in a single phase," said Brian Grissler, CEO of Stamford Hospital, in a prepared statement.
