The hospital wasn’t looking for land, but when an opportunity presented itself to purchase nearly 50 acres in a good location for a great price, officials said they knew it was worth a look.
The hospital is contemplating the purchase of 48.5 acres in McCordsville’s Villages at Brookside development. The hospital’s board of trustees approved up to $1.2 million for the purchase last month.
The hospital has already established a presence in McCordsville with the Hancock Medical Office, which offers urgent care, imaging, lab and various other services. The three parcels of land under consideration are located south and southeast of that office, with one of them contiguous to it.
Rob Matt, vice president of development, said the hospital is still in the investigation stages but sees the property as a good investment.
“We see it as a rich potential site and/or investment for the hospital,” Matt explained.
The hospital has made a tentative offer to Fifth Third Bank, which owns the property. That offer is contingent upon an environmental assessment that is still being conducted.
Matt said the hospital was approached about the land when it came up for sale; the hospital was not actively looking to expand. The land was originally targeted for a development that didn’t come to fruition after the downturn in the economy, so Matt said the hospital was in a position to secure the parcels at a great price.
The hospital has no immediate plans for the land, but Matt said he could see it being a location for possible future expansion. “We’re not exactly sure what the future holds, but we think McCordsville is a great location for potential future expansion of a variety of health services,” Matt said.
When asked if the parcels could be used to expand the existing office, develop another wellness center or open another surgery center, Matt said “all of the above” were possibilities. Until plans take shape, though, Matt said the hospital would look into leasing the space for farming.
The 48.5 acres is part of the larger 300-acre Villages at Brookside planned unit development established in 2005 that targeted mixed-use development. Several large sections of single-family dwellings have been built out. Sections designated for business and multifamily housing have not developed as quickly.