After years of local frustration over the abandoned construction project in north Peoria, the City of Peoria is thrilled to announce that a new, state-of-the-art medical campus will take over the Peoria Regional Medical Center (PRMC) site. First Service Medical, LLC, a development and investment group, purchased the land to build the campus.
“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,” says Mayor Cathy Carlat. “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 PRMC is a partially built, two-story, steel structure on seven acres located near the southwest corner of Lake Pleasant Parkway and Jomax Road. 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 has purchased the property and demolition of the existing structure can begin this month.
“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,” says Bridget Binsbacher, Peoria Mesquite District councilmember, the district where PRMC is located. “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 the City of 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 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.
“We are happy to have purchased the land out of bankruptcy and develop it into a useful commercial development for the community,” says Matt Leach, Principal of First Medical Services, LLC. “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 peoriaed.com.