After originally passing on the purchase of , Cincinnati Children's Hospital Medical Center finally closed on the property two weeks ago for $552,116.
In June, the Cincinnati City Council approved a zoning change from IR Institutional-Residential to CC-A Commercial Community Auto-Oriented District in an attempt to make the 2.1-acre site more attractive for development.
Several developers expressed interest in a rezoned site, including several fast food operators.
BMF Pediatric Care, who owned the land and a 16,000-square-foot building on the site, had been trying to market the property to fund its other locations in Over-the-Rhine, Norwood, and Harrison.
It is unclear if Children's will utilize the site for its own operations or put the land up for sale.
Previous reading on BC:
Avondale land rezoned (6/25/08)
Rezoning could make Avondale land marketable (6/13/08)
Thursday, November 20, 2008
Children's buys 400 E MLK after all
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2 comments:
Why would Children's buy the site to sell it?
I should have added that they could build on it and lease.
One of the main reasons for doing that would be to have better control over what is built there.
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