City of Boulder and BCH Close on Purchase of Broadway Hospital Property

The City of Boulder and Boulder Community Health (BCH) closed on the purchase of the 8.8-acre hospital property west of Broadway on Friday, Dec. 4.

The property includes the entire hospital campus site at 1100 Balsam Avenue as well as two properties on Alpine Street and two small properties on North Street. The agreed upon purchase price was $40 million.

“We are so excited to be the new owners and stewards of this important property,” said City Manager Jane Brautigam. “The city is very appreciative of the partnership this sale represents, and of the leadership BCH showed in understanding the importance of this site to the neighborhood and the city.”

“We look forward to undertaking a meaningful and significant community engagement process that will support the thoughtful consideration of the future uses of this site,” she continued. "Redevelopment opportunities like this are rare in Boulder – and we want to ensure we leverage this one wisely and collaboratively.”

BCH is also celebrating the closing.

“This sale is a true win-win situation that exemplifies Boulder Community Health’s long-standing commitment to our hometown,” said Dr. Robert Vissers, president/CEO of BCH. “It benefits BCH and local health care in multiple ways and also provides the City of Boulder with a valuable property that has tremendous potential for redevelopment.”

The closing agreement includes a two-year leaseback period, which will end Dec. 4, 2017, unless BCH vacates earlier. During this time period, BCH will retain possession of the hospital and continue to provide medical services there, particularly inpatient and outpatient Behavioral Health and Rehabilitation. Several physician and hospital clinics also will continue operating at the Broadway site including –

• Pain Management
• Electroconvulsive Therapy (ECT)
• Boulder Valley Pulmonology
• Guerra Fisher Institute
• Holistic Family Medicine
• Internal Medicine Associates of Boulder
• Medical and Surgical Care of the Eye
• Thayer Group for Women’s Care
• Dr. Christopher Trojanovich

The hospital also retains possession of 183 parking spaces in the basement and first floor of a parking structure at the corner of Alpine and Broadway and a portion of the Brenton Building, which is currently used by the Boulder Surgery Center. That portion will be vacated as soon as the center can move to its new location.

The city has immediate use of 198 parking spaces on the second, third and roof portion of the garage. Until more permanent redevelopment plans are created and approved, downtown city employees will be encouraged to park there as a satellite location to free up spaces for community members and relieve traffic congestion in the Civic Area. It is also possible that the city will move some work groups into open office space while the planning process gets underway.

Because the BCH site plays a major economic role in supporting area businesses, the city understands the importance of completing the planning process in a timely manner; however, redevelopment will not begin until the appropriate planning and land use tools are in place. The goal is to complete the majority of these by the end of 2016.

Details of the anticipated planning approach will be shared with the City Council and public in January. It is expected that this planning effort will be coordinated with the 2015 Boulder Valley Comprehensive Plan Update. Plans and redevelopment options for the site will be created and vetted through a robust public engagement process to ensure that the redevelopment aligns with the community’s goals and vision.

For more information about this project, please visit the city’s Boulder Community Health/Broadway Campus Redevelopment webpage. A map of the acquired properties is included on that page.