3. Pursuant to the Ground Lease, the Property shall be used for the operation of

Commission Committee Meeting · 2026-04-21 · agenda_item

This agenda item concerns a ground lease for a property where medical office buildings are planned. The lease outlines specific restrictions on services that can be offered within these buildings without the lessor's written approval. These restricted services include ambulatory surgery, physical therapy, and diagnostic imaging. A 'Change in Use' clause allows for broader use of the property, including general office buildings or other uses permitted by zoning, if the adjacent hospital ceases operations or significantly reduces its bed capacity for an extended period. This item is currently under review by the Commission Committee Meeting. The project would involve the construction of medical office buildings, potentially leading to site preparation, utility work, and the construction of the vertical structures. Following this, interior build-outs and finishes would be required. Local contractors, suppliers, and service providers in the healthcare and construction sectors could find opportunities by engaging early to understand the project's development timeline and potential needs before formal bidding processes begin.