A University of Wisconsin-Eau Claire fundraising foundation has sold a 600,000-square-foot former hospital to a local developer with a possibility of it being converted into a medical research park.
A Thursday statement from UW-Eau Claire Foundation Executive Director Kurt Krizan said the former Sacred Heart Hospital near the university’s upper campus has been sold to Commonweal Development Corp., based in the city.
Krizan said Commonweal “has a tremendous track record of success developing properties in Eau Claire and western Wisconsin, and we are excited they are taking the lead on creating new opportunities.”
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Eau Claire County records show the hospital has not yet been transferred to the development firm, but the sprawling 27-acre property has been surveyed.
According to the statement, Commonweal is “looking at the potential of creating a medical research and technology park” in addition to developing commercial sites on the property.
The prospect of a medical research facility is notable in light of an ongoing partnership between UW-Eau Claire and Mayo Clinic Health System that has led to dozens of collaborative research projects with Mayo physicians and scientists, according to the university.
Commonweal President Stuart Schaefer said the company appreciates the trust the UW-Eau Claire foundation has placed in the firm to develop the former Sacred Heart Hospital site.
“Commonweal has a long history of collaborating with public and private sector partners on projects that enhance our community and spur greater economic development,” Schaefer said. “We will be working closely with the university to help it achieve its strategic priorities while actively seeking partners to realize the best use of this unique property.”
One of the projects Schaefer is referring to is the $45 million Pablo Center at the Confluence performing arts facility located in Eau Claire’s downtown. Commonweal Development and the university foundation were among the partners that helped bring the six-year project to fruition when it opened its doors in 2018.
The Sacred Heart Hospital, built in 1964, was a prominent fixture in Eau Claire but has been vacant since Hospital Sisters Health System, or HSHS, closed it as part of a “complete exit from the Western Wisconsin region.”
In April, the UW-Eau Claire foundation bought the former hospital for an undisclosed amount. Eau Claire County property records show a $4,500 transfer fee was paid when the property was transferred from HSHS, which would put the sale price at $1.5 million, according to a formula used by county registers of deeds.
The statement from Krizan said the foundation spent several months looking at “multiple options” for developing the vacant hospital, but “having Commonweal develop the property is in the best interest of the UW-Eau Claire Foundation, UW-Eau Claire and the entire community.”
The foundation will retain a total of 10 acres of the 27-acre site, adjacent to UW-Eau Claire’s upper campus “for future university expansion and projects.”
“We believe there will be synergies between the university and the development that takes place on the property, and we are confident Commonweal will create an innovative, collaborative environment that will benefit the community in the long run,” Krizan said.
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