Snoqualmie Valley Hospital picks partner for new site
July 20, 2011
By Dan Catchpole
Snoqualmie Valley Hospital officials have picked a developer to help build a new hospital on Snoqualmie Ridge. Hospital officials and the developer, Terry Moreland, have signed an initial agreement and are negotiating the final agreement.
Construction is expected to begin in January, according to Rodger McCollum, CEO of King County Public Hospital District No. 4, which manages the hospital.
“This latest process has moved forward very quickly with a lot of details to attend to, so I haven’t really had the time yet to let it all sink in,” McCollum said.
The new site will make the hospital more accessible, allow it to improve services and boost its revenue, district officials said.
The district had been in rough financial times just a few years ago, but since McCollum took over in 2007, it has been profitable, according to the most recent report by the state auditor.
The district has been looking for a new hospital site for several years.
In 2008, the district purchased a site near the interchange of Interstate 90 and state Route 18, but that move fell through after the district found out that it would be too expensive to develop. The district settled a lawsuit from that sale in November, agreeing to buy land formerly used by the RV campground Leisure Time for $7 million.
| > Click here to see a copy of the settlement. |
The new hospital will be on a nearly nine-acre site on Snoqualmie Parkway and Southeast 99th Street.
The Snoqualmie Tribe bought the existing hospital for $30 million, which it will pay off by May 2015.
In April, the district sought out developers to help build the new facility using a lease-leaseback structure. The developer will help finance the new building, which the district will lease and then purchase. Under that approach, the hospital will not have to take on any debt.
Moreland will lead a team that will include Soderstrom Architects, of Portland, and Absher Construction, of Puyallup.
Moreland could not be reached for comment.
Comments
Got something to say?
Before you comment, please note:
- These comments are moderated.
- Comments should be relevant to the topic at hand and contribute to its discussion.
- Personal attacks and/or excessive profanity will not be tolerated and such comments will not be approved.
- This is not your personal chat room or forum, so please stay on topic.
