After more than a century as a hospital in downtown Marshalltown, UnityPoint Health has sold the property between East Main Street, South Third Avenue, East Church Street and South Fifth Avenue to a developer with future plans for ” office, retail, residential and living/working”. use of space”.
UnityPoint is currently in the process of moving operations to a new campus on the southern outskirts of Marshalltown, which is expected to take about six months, and a press release said the sale will not affect day-to-day functionality in the interim. .
“This is good news for the city and our team,” said Jenni Friedly, president of UnityPoint Health, in Marshalltown. “The sale of the hospital and its campus was a necessary part of our transition to the new hospital, and we are excited to see how the old property will also be redesigned and developed for the future.”
CD Marshalltown LLC, a division of Covalt Development owned by T. Scott Covalt of Dike, purchased the property for an undisclosed amount. Covalt said he plans to hold a conference call with city officials next week and redevelop the space over a three-year period.
“It’s going to be a fun project, and I’m really looking forward to working with the city to make it happen,” Covalt said.
He is teaming up with an architect and aims to complete renderings within the next two weeks. Covalt, which also owns the Fox Ridge Golf Course in Dike, is considering a mixed-use development that will serve as a “downtown corridor expansion.”
Marshalltown Area Chamber of Commerce President and CEO John Hall welcomed the news and expressed optimism for the site’s future.
“This is the largest redevelopment site we are likely to ever see in downtown Marshalltown, so we are extremely pleased to see UnityPoint have sold the property to a developer,” he said. “We sincerely hope to see something big happen with this development and we are excited to see what is happening.”
The purchase also includes the adjoining family medical clinic. When it opened in 1914, the downtown facility was known as the Evangelical Deaconess Home and Hospital, and UnityPoint Health took over operations from Central Iowa Healthcare in 2017.
Contact Robert Maharry at 641-753-6611 ext. 255