CFA Institute Plans Major Renovation of Old MJH Building
rendering of upcoming renovation to the old Martha Jefferson Hospital building
rendering of the Patterson wing of the old Martha Jefferson Hospital building
The Chartered Financial Analyst (CFA) Institute is embarking on one of Charlottesville's biggest construction projects in recent memory. The institute is spending tens of millions of dollars to renovate the old Martha Jefferson Hospital building, transforming it into a new global operations center.
It's a huge project, with a price tag between $34 million and $35 million. But CFA says it's worth the investment, giving new life to an iconic building, and allowing CFA to continue growing in Charlottesville.
Almost every day since September, Scott Adams has watched the old Martha Jefferson Hospital building take on an entirely new form.
"It's been pretty noisy, and especially the last few weeks have been exceptionally noisy. But it's tolerable only because we know it's temporary," Adams said.
Charlottesville area-based CFA Institute, a global association of investment professionals, says it will move into the building at the end of the year.
"We have offices across the globe, but this will represent our global operations center," said Tim McLaughlin, chief financial officer for CFA.
The project is on track for completion in December, but there is still a lot of work to be done.
"Any time you have an adaptive re-use facility, you're always going to have challenges, and we've had our challenges," said Guy Williams, head of finance and risk management for CFA.
Challenges include fireproofing, electrical and HVAC issues and restoring the 1920s-era Patterson wing.
"We've exposed archways that are absolutely beautiful, and it's going to be an extremely pleasant building for our employees," Williams said.
CFA is transforming once-confined hospital hallways into expansive workspaces, doing it all while working toward LEED Gold certification.
"We're taking a building that is in the heart of Charlottesville, and turning it into what I think will be a very pleasant compliment to the neighborhood," Williams said.
And despite the noise in the short term, neighbors like Adams tend to agree.
"General consensus is it's very positive. With the CFA moving in across the street, that brings what sounds like will be a good neighbor and a good fit for around here," Adams said.
Right now, CFA employs about 450 people in the Charlottesville area, spread out in four different offices. The renovation will bring everyone under one roof, and allow the company to expand in the future.
CFA Institute Plans Major Renovation of Old MJH BuildingMore>>
Ed joined the NBC29 news team in May, 2011. A Charlotte, NC, native, he graduated from the University of North Carolina at Chapel Hill with degrees in journalism and political science.Full Story
Ed joined the NBC29 news team in May, 2011. A Charlotte, NC, native, he graduated from the University of North Carolina at Chapel Hill with degrees in journalism and political science. Email/Follow on Twitter/ Full Story
Sign Up for Email Alerts
Sign up to receive NBC29 news and weather updates in your inbox daily.