After years of local frustration over the abandoned hospital construction project in north Peoria, the city of Peoria announced a new medical campus will take over the Peoria Regional Medical Center site.
The partially built, two-story, steel structure on 7 acres is near the southwest corner of Lake Pleasant Parkway and Jomax Road.
The structure is expected to be demolished in October.
First Service Medical LLC, a development and investment group, purchased the Peoria Regional Medical Center site to build a new campus. First Service Medical is listed as having been formed in August by several Peoria residents, according to Arizona Corporation Commission records.
“Peoria has spent many years working to remove the skeletal remains of PRMC and although many roadblocks have stalled our efforts, Peoria persevered in securing a demolition order, while working to find the right owner for this site,” said Mayor Cathy Carlat in a news release. “We are thankful for First Service Medical’s commitment to demolishing the blighted structure and we look forward to the development of a superior medical campus to serve our growing community.”
The original owners intended to build Peoria’s first hospital in 2010 but work stopped a year later. Before the structure could be demolished, the owners filed bankruptcy in October 2017, beginning a long series of legal proceedings and causing further delays.
Now, First Service Medical bought the property and, according to the purchase and sale agreement and a court order, demolition of the existing structure can begin within 30 days.
“Today, I am beyond excited that not just an eyesore, but a scar that has impacted this community for far too long, will finally come to an end,” said Bridget Binsbacher, who represents the area. “I am grateful for the support of our mayor, council and management team who facilitated my commitment on this issue and worked diligently to find a solution and to make this day possible. In addition, my deepest appreciation to our residents who have demonstrated a great amount of patience throughout the process.”
After a long process and active recruitment by Peoria’s Economic Development Department, First Service Medical is moving forward with plans to develop a new medical campus that will improve the site and bring quality, head-of-household jobs to the area.
The city attorney’s office also played a prominent role in facilitating this transaction in conjunction with multiple parties. First Service Medical is the investment entity formed for acquisition of the property and its future development as a medical campus. The principals are experienced in hospital and real estate development throughout the U.S.
More information regarding the medical campus will be provided in the near future.
“We are happy to have purchased the land out of bankruptcy and develop it into a useful commercial development for the community,” Matt Leach, principal of First Medical Services, said in the release.
“We’ve enjoyed working with the city of Peoria; they’ve answered our questions and provided the support we needed to move forward.”
For more information about the property and development, visit www.peoriaed.com.