An aerial photo showing the outline of the property. (Courtesy CBRE)
Centennial subdivision developer E5x Management is one step closer to redeveloping the former Lutheran Medical Center campus in Wheat Ridge.
The firm spent $60 million last week to purchase 89 of the campus’ 100 acres, according to public records. The property includes the main hospital building along 38th Avenue, some of its historic buildings and seas of surface parking lots.
The deal works out to $15.50 per square foot for the land, which spans 32nd to 38th avenues between Dudley and Allison streets.
The land was sold by Salt Lake City, Utah-based hospital owner Intermountain Health. The company is keeping the remaining 11 acres, which are concentrated in the northwest and southern ends of the campus.
Lutheran closed the hospital last year when it opened a new campus farther west in Wheat Ridge.
E5X will turn the property into a 1,500-unit housing development, according to plans on its website. The company did not respond to multiple requests for comment last week.
At a May news conference announcing his selection as site developer, E5x owner Chris Elliott said “the effort that Intermountain undertook with the city of Wheat Ridge is unprecedented.”
“The involvement of the community was very thoughtful and methodical in terms of putting together a plan that worked,” Elliott said.
Chris Elliott addresses the audience in an announcement naming his E5x Management as the developer of the old Lutheran Medical Center property earlier this year. (Matt Geiger/BusinessDen)
The price of the deal was not disclosed at the time.
Single-family homes are to be built on the east, west and southern edges of the campus, transitioning to denser residential in the center and north end of the property along the busy 38th Avenue corridor. Twenty percent of the land will be reserved for parks and open space.
Along 38th Avenue, where the former hospital is, a civic building and senior apartments are planned. Pieces of the building will be used in the construction of the homes and apartments, Elliott said in May. The old chapel and a blue house, one of the first buildings constructed on the campus in 1905, will remain standing.
The blue house was built when the hospital was a small collection of tents treating tuberculosis patients who came to Colorado for the dry, clean air. Elliott said in the spring that he plans to keep one of those old tents around, too.
“If I had tuberculosis, and that’s what I was, you know, residing in, I’d be a little bit concerned and try to get healthy really fast,” he said at the news conference.
The Lutheran site isn’t the only former hospital campus to sell in recent years. A former Veterans Affairs hospital on 8 acres in Denver sold for $41 million in 2022.
An aerial photo showing the outline of the property. (Courtesy CBRE)
Centennial subdivision developer E5x Management is one step closer to redeveloping the former Lutheran Medical Center campus in Wheat Ridge.
The firm spent $60 million last week to purchase 89 of the campus’ 100 acres, according to public records. The property includes the main hospital building along 38th Avenue, some of its historic buildings and seas of surface parking lots.
The deal works out to $15.50 per square foot for the land, which spans 32nd to 38th avenues between Dudley and Allison streets.
The land was sold by Salt Lake City, Utah-based hospital owner Intermountain Health. The company is keeping the remaining 11 acres, which are concentrated in the northwest and southern ends of the campus.
Lutheran closed the hospital last year when it opened a new campus farther west in Wheat Ridge.
E5X will turn the property into a 1,500-unit housing development, according to plans on its website. The company did not respond to multiple requests for comment last week.
At a May news conference announcing his selection as site developer, E5x owner Chris Elliott said “the effort that Intermountain undertook with the city of Wheat Ridge is unprecedented.”
“The involvement of the community was very thoughtful and methodical in terms of putting together a plan that worked,” Elliott said.
Chris Elliott addresses the audience in an announcement naming his E5x Management as the developer of the old Lutheran Medical Center property earlier this year. (Matt Geiger/BusinessDen)
The price of the deal was not disclosed at the time.
Single-family homes are to be built on the east, west and southern edges of the campus, transitioning to denser residential in the center and north end of the property along the busy 38th Avenue corridor. Twenty percent of the land will be reserved for parks and open space.
Along 38th Avenue, where the former hospital is, a civic building and senior apartments are planned. Pieces of the building will be used in the construction of the homes and apartments, Elliott said in May. The old chapel and a blue house, one of the first buildings constructed on the campus in 1905, will remain standing.
The blue house was built when the hospital was a small collection of tents treating tuberculosis patients who came to Colorado for the dry, clean air. Elliott said in the spring that he plans to keep one of those old tents around, too.
“If I had tuberculosis, and that’s what I was, you know, residing in, I’d be a little bit concerned and try to get healthy really fast,” he said at the news conference.
The Lutheran site isn’t the only former hospital campus to sell in recent years. A former Veterans Affairs hospital on 8 acres in Denver sold for $41 million in 2022.
