BCH sells Mapleton site for $12.9 million
Last Updated: 15:48 January 2, 2014
Jay Hebb, a partner at Re/Max Alliance on Walnut who represented the buyer, said in an email that Crystal Ridge Colorado LLC paid $12.9 million for the property located at 311 Mapleton Ave.
The 14.9-acre site features six buildings. Those include the Mapleton Center for Rehabilitation, which houses the Boulder Center for Sports Medicine; the Maxwell Building, a former nurse dormitory; an equipment and facilities building; and three cottages. The sale includes a provision that allows BCH to retain possession of the campus through December of 2015, hospital spokesman Rich Sheehan said.
Specific plans for the site remain unclear, but it seems redevelopment is in its future. Crystal Ridge Colorado is an entity formed Dec. 22, according to documents filed with the Colorado Secretary of State's office.
"The buyers are excited about the opportunity and looking forward to regentrifying one of the city's most coveted properties," Hebb said in his email. "With regard to the future use of the property, we intend to explore all options with a commitment to making a positive contribution to the community."
A potential buyer had gone under contract to purchase the Mapleton property last spring, though Sheehan said Thursday that was not Crystal Ridge.
The hospital is in the process of moving its acute-care operations from 1100 Balsam Ave. to the newer Foothills campus. Construction at the Foothills campus is expected to wrap up in July, with the full hospital move slated for completion by Oct. 1, BCH chief executive David Gehant told the Business Report last month.
Once the main hospital's move is complete, BCH will centralize its outpatient services and business operations, moving them from the Mapleton Center for Rehabilitation to the Balsam campus. The lease-back provision in the Mapleton sale gives the hospital time to make that move, and Sheehan said it keeps BCH's planned timeline intact.
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