Cookeville Regional Medical Center will consider purchasing some 40,000 square feet of land on North Cedar Avenue.
The hospital board’s Finance Committee approved the purchase Tuesday night. CEO Paul Korth said the city of Cookeville offered the land back to the hospital after closing on it.
“We will use this for parking, I think it will be extended parking for both our Emergency Room area and our Convenient Care Clinic, our Urgent Care Center across the street,” Korth said. “So this fits well with the needs of the Medical Center.”
Korth said the budgeted purchase is set to cost some $753,286, or about $18 per square foot. He said that the last time the city bought land of this nature five or six years ago was just above $14 per square foot.
Korth said the hospital will use the land for raw land, and that the city has offered to use its manpower to tear down the building on the lot as it is not of use to the hospital. He said he expects the acre of land to create some 40 parking spots.
“We haven’t designed it out yet,” Korth said. “But we’ll probably do something nice to try to match what the city has done what the city has done with the parking and stuff, and just make it a nice piece of parking property.”
The CRMC Board of Trustees will vote to approve the purchase Thursday night.