The presence of the nonprofit Bay Area Health Trust on the west Mountain will disappear at the end of May when a deal to sell nearly 7.3 hectares (18 acres) of former Chedoke Hospital land to a couple of local home builders closes.
Starward Homes and Marz Homes have formed a partnership to purchase the bulk of the nearly 10.5 hectares (26 acres) of the Sanatorium Road site that was put up for sale more than a year ago.
The Thrive Group, which owns the St. Peter’s Residence at Chedoke nursing home, and Dr. Allen Greenspoon, who owns the Osler building on the site, have purchased the remainder of the land with the exception of the 0.5 hectare (1.3 acre) Wellwood property which will be retained by the BAHT.
“I think we achieved a fair price for the property,” said BAHT president and CEO Gary Wade, who would not disclose how much the trust will be getting for the land and buildings.
Terri Johns, planning consultant for the trust, said previously the property could be worth as much as $20 million.
Wade said the money will be used by the trust to pay off the debt that was incurred when it purchased the Chedoke Hospital land from the Hamilton Health Sciences Foundation four years ago.
Hamilton Health Sciences informed the trust in 2015 that it had no interest in the Chedoke Hospital land or any of the buildings and has since moved all of its operations and staff from the site.
The Thrive Group is contemplating a 90-100 unit life-leasing complex for people age 55 and over just south of the St. Peter’s residence and Greenspoon said in 2015 he was looking at setting up the Chedoke Health Consortium, a multifaceted initiative that would offer services out of the Osler Building and elsewhere on the Chedoke site.
As part of the bidding process, the BAHT asked perspective buyers to address the following elements or principals in their submissions:
- Support community health care initiatives that support overall needs for health and wellness.
- Initiatives that benefit transitional wellness will be promoted.
- Support neighbouring institutions and community health/education partners.
- Reduction of the site maintenance costs and liabilities after 2015.
Wade said he’s satisfied those principles were addressed in the land sale.
The presence of the nonprofit Bay Area Health Trust on the west Mountain will disappear at the end of May when a deal to sell nearly 7.3 hectares (18 acres) of former Chedoke Hospital land to a couple of local home builders closes.
Starward Homes and Marz Homes have formed a partnership to purchase the bulk of the nearly 10.5 hectares (26 acres) of the Sanatorium Road site that was put up for sale more than a year ago.
The Thrive Group, which owns the St. Peter’s Residence at Chedoke nursing home, and Dr. Allen Greenspoon, who owns the Osler building on the site, have purchased the remainder of the land with the exception of the 0.5 hectare (1.3 acre) Wellwood property which will be retained by the BAHT.
“I think we achieved a fair price for the property,” said BAHT president and CEO Gary Wade, who would not disclose how much the trust will be getting for the land and buildings.
Terri Johns, planning consultant for the trust, said previously the property could be worth as much as $20 million.
Wade said the money will be used by the trust to pay off the debt that was incurred when it purchased the Chedoke Hospital land from the Hamilton Health Sciences Foundation four years ago.
Hamilton Health Sciences informed the trust in 2015 that it had no interest in the Chedoke Hospital land or any of the buildings and has since moved all of its operations and staff from the site.
The Thrive Group is contemplating a 90-100 unit life-leasing complex for people age 55 and over just south of the St. Peter’s residence and Greenspoon said in 2015 he was looking at setting up the Chedoke Health Consortium, a multifaceted initiative that would offer services out of the Osler Building and elsewhere on the Chedoke site.
As part of the bidding process, the BAHT asked perspective buyers to address the following elements or principals in their submissions:
- Support community health care initiatives that support overall needs for health and wellness.
- Initiatives that benefit transitional wellness will be promoted.
- Support neighbouring institutions and community health/education partners.
- Reduction of the site maintenance costs and liabilities after 2015.
Wade said he’s satisfied those principles were addressed in the land sale.
The presence of the nonprofit Bay Area Health Trust on the west Mountain will disappear at the end of May when a deal to sell nearly 7.3 hectares (18 acres) of former Chedoke Hospital land to a couple of local home builders closes.
Starward Homes and Marz Homes have formed a partnership to purchase the bulk of the nearly 10.5 hectares (26 acres) of the Sanatorium Road site that was put up for sale more than a year ago.
The Thrive Group, which owns the St. Peter’s Residence at Chedoke nursing home, and Dr. Allen Greenspoon, who owns the Osler building on the site, have purchased the remainder of the land with the exception of the 0.5 hectare (1.3 acre) Wellwood property which will be retained by the BAHT.
“I think we achieved a fair price for the property,” said BAHT president and CEO Gary Wade, who would not disclose how much the trust will be getting for the land and buildings.
Terri Johns, planning consultant for the trust, said previously the property could be worth as much as $20 million.
Wade said the money will be used by the trust to pay off the debt that was incurred when it purchased the Chedoke Hospital land from the Hamilton Health Sciences Foundation four years ago.
Hamilton Health Sciences informed the trust in 2015 that it had no interest in the Chedoke Hospital land or any of the buildings and has since moved all of its operations and staff from the site.
The Thrive Group is contemplating a 90-100 unit life-leasing complex for people age 55 and over just south of the St. Peter’s residence and Greenspoon said in 2015 he was looking at setting up the Chedoke Health Consortium, a multifaceted initiative that would offer services out of the Osler Building and elsewhere on the Chedoke site.
As part of the bidding process, the BAHT asked perspective buyers to address the following elements or principals in their submissions:
- Support community health care initiatives that support overall needs for health and wellness.
- Initiatives that benefit transitional wellness will be promoted.
- Support neighbouring institutions and community health/education partners.
- Reduction of the site maintenance costs and liabilities after 2015.
Wade said he’s satisfied those principles were addressed in the land sale.