VCU Health recently bought land near Chesterfield’s government offices and courthouse. (Jack Jacobs photo)
After pulling out as the anchor of the Courthouse Landing development in Chesterfield, VCU Health has scooped up some land just down the road.
The health system recently bought 8.5 acres near the intersection of Iron Bridge and Beach roads, according to county records.
While VCU Health’s exact plans for the site are unclear, the recently acquired property appears to be at or near the spot where the health system has said it wants to build the sort of outpatient surgery center it had once planned for Courthouse Landing.
The land purchase came shortly after VCU Health secured permission from the state health department to relocate the Courthouse Landing project to the new, yet-to-be-revealed location.
When reached for comment last week, VCU Health spokeswoman Danielle Pierce declined to answer questions about the acquisition, how it related to the outpatient surgery center project or where specifically the center would be located.
“While we are in the preliminary stages of this process, our focus remains on delivering compassionate, high-quality care in safe and accessible environments. We look forward to sharing more details as our plans progress,” an emailed statement to BizSense read in part.
VCU Health’s newly acquired real estate consists of 9820 Iron Bridge Road and a portion of 7220 Beach Road. The health system bought the property for $1.5 million in mid-January from Cogbill Land Associates LLC, county records show.
The undeveloped land is next to the Food Lion-anchored Courthouse Commons West shopping center and near the Chesterfield courthouse. It is also next to the Nash Road extension now under construction.
When VCU Health submitted a request to the state to relocate its proposed outpatient surgery center out of Courthouse Landing, the health system included a map in the application that depicted the new proposed site, and that site would appear to be at or near the recently purchased land.
VCU Health included this map in its request to the state seeking to relocate an outpatient facility previously planned for Courthouse Landing to a new location a mile away. (BizSense file)
The relocation request filed in June came as an amendment to VCU Health’s regulatory approval in 2021 to establish the project at the mixed-use development just up the road. Certain medical facilities and equipment need to be approved through the state’s certificate of public need (COPN) regulatory process, and to move an approved project also requires the state’s permission.
In its application, VCU Health described the preferred site, which wasn’t specifically identified, as being 6 acres in size.
The health system said in its request that perceived delays in the construction of Courthouse Landing, financial issues and other factors slowed negotiations for a site at the development and motivated the organization to look elsewhere for the project. The building was planned to be 60,000 square feet with four operating rooms and office space.
In late December, the state health commission approved the request to relocate the project, and the approval letter described the new location as “Virginia Route 10 (Iron Bridge) and Commons Square.”
The outpatient facility is currently anticipated to cost $33.4 million, according to the state’s letter.
VCU Health’s deal in Chesterfield followed the health system’s $9.5 million acquisition of the former Pet Dairy facility on Robin Hood Road in Richmond in November.
Meanwhile, work continues at Courthouse Landing, a 124-acre project at the intersection of Courthouse and Iron Bridge roads. The development is currently planned to feature around 425,000 square feet of commercial space and nearly 500 residential units, with a total estimated cost of $250 million to $400 million. Some of its first pieces are set to be completed this year, with more on the way.
VCU Health recently bought land near Chesterfield’s government offices and courthouse. (Jack Jacobs photo)
After pulling out as the anchor of the Courthouse Landing development in Chesterfield, VCU Health has scooped up some land just down the road.
The health system recently bought 8.5 acres near the intersection of Iron Bridge and Beach roads, according to county records.
While VCU Health’s exact plans for the site are unclear, the recently acquired property appears to be at or near the spot where the health system has said it wants to build the sort of outpatient surgery center it had once planned for Courthouse Landing.
The land purchase came shortly after VCU Health secured permission from the state health department to relocate the Courthouse Landing project to the new, yet-to-be-revealed location.
When reached for comment last week, VCU Health spokeswoman Danielle Pierce declined to answer questions about the acquisition, how it related to the outpatient surgery center project or where specifically the center would be located.
“While we are in the preliminary stages of this process, our focus remains on delivering compassionate, high-quality care in safe and accessible environments. We look forward to sharing more details as our plans progress,” an emailed statement to BizSense read in part.
VCU Health’s newly acquired real estate consists of 9820 Iron Bridge Road and a portion of 7220 Beach Road. The health system bought the property for $1.5 million in mid-January from Cogbill Land Associates LLC, county records show.
The undeveloped land is next to the Food Lion-anchored Courthouse Commons West shopping center and near the Chesterfield courthouse. It is also next to the Nash Road extension now under construction.
When VCU Health submitted a request to the state to relocate its proposed outpatient surgery center out of Courthouse Landing, the health system included a map in the application that depicted the new proposed site, and that site would appear to be at or near the recently purchased land.
VCU Health included this map in its request to the state seeking to relocate an outpatient facility previously planned for Courthouse Landing to a new location a mile away. (BizSense file)
The relocation request filed in June came as an amendment to VCU Health’s regulatory approval in 2021 to establish the project at the mixed-use development just up the road. Certain medical facilities and equipment need to be approved through the state’s certificate of public need (COPN) regulatory process, and to move an approved project also requires the state’s permission.
In its application, VCU Health described the preferred site, which wasn’t specifically identified, as being 6 acres in size.
The health system said in its request that perceived delays in the construction of Courthouse Landing, financial issues and other factors slowed negotiations for a site at the development and motivated the organization to look elsewhere for the project. The building was planned to be 60,000 square feet with four operating rooms and office space.
In late December, the state health commission approved the request to relocate the project, and the approval letter described the new location as “Virginia Route 10 (Iron Bridge) and Commons Square.”
The outpatient facility is currently anticipated to cost $33.4 million, according to the state’s letter.
VCU Health’s deal in Chesterfield followed the health system’s $9.5 million acquisition of the former Pet Dairy facility on Robin Hood Road in Richmond in November.
Meanwhile, work continues at Courthouse Landing, a 124-acre project at the intersection of Courthouse and Iron Bridge roads. The development is currently planned to feature around 425,000 square feet of commercial space and nearly 500 residential units, with a total estimated cost of $250 million to $400 million. Some of its first pieces are set to be completed this year, with more on the way.
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That was a very good purchase price for VCU. It must have been an off-market deal.