Physician's Clinic Of Iowa Medical Mall
Cedar Rapids City Council Votes 6 to 3 For Final Approval of Re-routing of Portions of Second Avenue for Medical Mall
October 26, 2010: Cedar Rapids, IA – The Cedar Rapids City Council approved the third and final reading of the vacation of City-owned right of way at 2nd Ave SE between 10th Street SE and 12th Street SE for the development of the Medical Mall after a brief period of Council discussion. The vote was again 6 affirmative to 3 opposed allong the same lines as the previous three votes. Prior to vote the the council also approved the development agreement with PCI and related partners. Both actions were crucial to the Medical Mall project being developed in the Medical District.
Cedar Rapids City Council Schedules Third and Final Reading For Vacating Portions of Second Avenue for Medical Mall
October 14, 2010: Cedar Rapids, IA – The Cedar Rapids City Council has indicated it will place the third and final reading of the Vacation of a portion of Second Ave on its agenda for the October 26th Council Meeting.
Cedar Rapids City Council Again Votes 6 to 3 For Re-routing of Portions of Second Avenue for Medical Mall
September 14, 2010: Cedar Rapids, IA – The Cedar Rapids City Council approved the second reading of the vacation of City-owned right of way at 2nd Ave SE between 10th Street SE and 12th Street SE for the development of the Medical Mall after a brief period of Council discussion. The vote was again 6 affirmative to 3 opposed. Two council members reserved the right to change their vote to affirmative in the future but it is subject to a mutually favorable outcome for the City and the Mall Project in the negotiated Development Agreement.
Cedar Rapids City Council Votes 6 to 3 For Re-routing of Portions of Second Avenue for Medical Mall
August 24, 2010: Cedar Rapids, IA – The Cedar Rapids City Council approved the first reading of the vacation of City-owned right of way at 2nd Ave SE between 10th Street SE and 12th Street SE for the development of the Medical Mall after a two and one half hour public meeting. The vote was 6 affirmative to 3 opposed after council members listened to 29 people expressed their opinions both pro and con to the closing of a two block segment of 2nd Ave SE.
The public hearing actually combined the public hearings for the vacation of 4 different right of ways for the project. The other three non-controversial sections included two alleys and a section of 11th Street SE between 1st Ave SE and 2nd Ave SE. All of which right of ways are surrounded by parcels already acquired for the PCI development and there closing will have no impact on traffic flows in the area.
It is anticipated that Council will take-up the second reading of the vacation at the next Council Meeting on September 14th. The third and final reading and vote will not likely occur until March or April of next year. It is expected that the PCI project will not need to close 2nd Ave SE for construction until that time.
The PCI Medical Mall project is the first major project to be announced in the proposed Medical District.
Cedar Rapids Area Chamber Board of Directors Support Re-routing of Second Avenue for Medical Mall
August 18, 2010: Cedar Rapids, IA – The Cedar Rapids Area Chamber of Commerce submitted letters to the Cedar Rapids Mayor and City Council expressing its support of re-routing Second Avenue in order to create an economically viable and regionally recognized medical district. The enhancement of the medical district aligns with the Chamber's mission to promote economic vitality and quality of life in the region.
The vote from the Board of Directors follows careful consideration and review of information provided at the medical district open house meetings held August 4th and 5th. The project represents the opportunity to meet the plans of The Chamber and the City of Cedar Rapids. The development of a medical district will be beneficial for our entire region, and the chamber recognizes that it will be extremely beneficial for the redevelopment and revitalization of the downtown area. Cedar Rapids must create jobs and create a climate that attracts economic development to our area.
"Cedar Rapids has the opportunity to capitalize on this public-private partnership as PCI's plans to expand and enhance patient medical care by building a state-of-the-art medical mall," states Shannon Meyer, President and CEO of The Cedar Rapids Area Chamber of Commerce. "The support of PCI's project will launch a medical district that will attract numerous sustainable jobs and significant economic development through basic-sector business attraction for many years to come. Our Board of Directors urges the city council to vote in favor of the re-routing of Second Avenue SE to continue the development of this critical medical district."
Economic Impact Analysis for Medical Mall Released
June 28, 2010: The Cedar Rapids Area Chamber of Commerce in conjunction with Priority One is releasing the results of an economic impact study conducted by Iowa State University. The economic impact analysis studied the consolidation of Physicians' Clinic of Iowa (PCI) into one central location.
PCI employs 350 workers producing $63.5 million in direct output. In addition, $10.8 million in indirect activity is stimulated among all suppliers to the clinic, supporting 68 area jobs and $3.76 million in labor incomes. The combined direct and indirect labor incomes provides $25.1 million in induced transactions in the Linn County economy. The total regional output from PCI is nearly $100 million.
The consolidated clinic, referred to as the Medical Mall, creates future growth opportunity for PCI. PCI looks to create 50 new jobs as a result of the Medical Mall. The net increase in medical services in the region would produce a project $14.2 million in additional regional output, $7.1 million in labor incomes and the creation of 44 indirect and induced jobs.
"The Chamber Board of Directors is fully supportive of the medical district and after reviewing the impact PCI has within the community, it is clear this project could launch the development of the district," states Brad Hart, Board Chair, Cedar Rapids Area Chamber of Commerce.
The impact analysis also evaluated the impact of the $44 million in construction expenditures to build the 220,000 sq ft facility. Although the project would not result in expansions within the construction industry, the project would require 277 workers who would make $16.23 million in labor incomes.
"Priority One will be positioned to market and support the growth of the medical district in Cedar Rapids," shares Mark Seckman, President, Priority One. "The existing office space that could come online due to PCI's consolidation will be an attractive option to many companies in the healthcare industry."
The increased taxable valuation was also calculated in the study. The $44 million facility would provide $1.598 million annually in total property taxes to all taxing jurisdictions and of that $669,513 would go to the City of Cedar Rapids.
The study was commissioned by Priority One and completed by Dave Swenson, Department of Economics at Iowa State University.