Medical center sale doesn’t knock out CMC | SummitDaily.com
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Medical center sale doesn’t knock out CMC

FRISCO – The Summit Vista Professional Building in Frisco will soon have a different owner, but the all-but-final transaction hasn’t wavered Frisco officials’ interest in the location as a future site for Colorado Mountain College.The college plans to relocate somewhere in Frisco on the condition that it receives free land from the town.The medical center’s buyer, Wise Inc. of Muncie, Ind., is aware of the town’s hopes for the property. Once Wise officially makes the purchase, it will own the building, but not the land underneath, which belongs to Centura Health/St. Anthony.”We are of the belief that if the town is desirous of acquiring the property, we still have the ability to do so,” said Frisco town manager Michael Penny. “We have been in preliminary discussions with Wise and Centura Health.”The town has also had discussions about the site with Dennis Flint, CEO of High Country Health Care, who represents the doctors who currently own the building. But Frisco’s timeline wasn’t quick enough for the doctors, who have been eager to get out of the building and into a new facility near the future hospital a few miles down the road.”We gave Frisco plenty of opportunity to do this deal early on, but it’s gotten complicated,” Flint said. “The bottom line for me is that we have an exit strategy. We really don’t care who takes us out as long as we’re out.”Frisco’s ability to purchase the building – and the ground underneath it – hinges on its ability to come up with the cash. And the town council’s recent decision to support retail development on the town-owned 10-acre parcel behind Safeway greases the wheels. A May, 2004, appraisal of the parcel valued the site at $4.9 million, and an updated appraisal is on the way.”Either lease or sale of the 10-acre parcel would provide the cash for the purchase of Summit Medical Center, and with the money left over, we could even provide additional amenities and services,” Penny said. The town council’s decision to support retail development at the 10-acre parcel has outraged many residents who had hoped CMC would locate there.-Julie Sutor


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