Hospital to buy former furniture store in Cortez

Hospital to buy former furniture store in Cortez

November 1, 2001

By Jim Mimiaga
Journal Staff Writer

Southwest Memorial Hospital has signed a contract to purchase the old Helig-Meyer building in Cortez, according to CEO Bob Peterson.

"The board authorized the purchase and now we are finding an architect to renovate it for our needs," Peterson said.

The 18,000-square-foot building on Market Street is being purchased for $500,000 with renovation costing "in excess of $300,000," Peterson said.

The purchase price includes a parking lot to the south on the corner of First and Market streets.

Southwest will use the new building to house its rehabilitation center, now located at the Cortez Plaza. Southwest’s home-health services will also move over.

To make room for an expanded outpatient surgery center at Southwest, the business office and other non-medical services will relocate to the building as well.

A move-in date is tentatively set for June 1, 2002.

The move to buy was justified because loan payments nearly equaled rent obligations to the current rehab center, Peterson said.

"It will cost less than $10,000 more per year to buy the building, but we more than make up the difference in equity so it makes good sense to buy," he said.

Closing is expected by the first of the year. Remodeling in the warehouse will include installing a lower ceiling, putting up office walls, new plumbing, new lighting, flooring and electrical upgrades.

The new building will free up space and will pave the way for a major expansion of the operating rooms, the birthing center and radiology. This and other projects will cost an estimated $12 million.