A group of investors, including Roanoke Development Consultant Brian Wishneff, has agreed to purchase the former Giles Memorial Hospital in Pearisburg. The property currently houses a dialysis clinic, and the new owners envision a health campus that could include an assisted living center for seniors.
The facility will also be used by the production company of "Wish You Well," a movie that will be filmed in Giles County this fall.
The full text of the news release follows:
Press Release: July 18, 2012
For immediate release:
The Giles County Industrial Development Authority announced today that they have a contract to sell the former Giles Memorial Hospital to a team of investors led by Brian Wishneff of Brian Wishneff and Associates, a Roanoke based developer and development consultant. The facility was initially acquired by the Authority as part of an exchange for the real estate and infrastructure for the new Giles Carilon Community Hospital development. A portion of the facility was recently leased and renovated by Fresenius Medical for a dialysis clinic. The facility will also be utilized as office space and set development by the production company of the “Wish You Well” movie to be filmed in Giles County this fall.
Authority Chairman, Lee Wheeler said “It is our hope that the revitalization of this historic facility that has served our community for so long, will continue. Wishneff and Associates has demonstrated their ability to creatively redevelop facilities like this one in the past and we look forward to working with them on this endeavor. They are currently looking at the feasibility of an assisted living center which we believe is a much needed service in the community. Developing needed services, increasing our tax base, and creating employment opportunities is our mission and we think this project has great potential to do all of these things.”
“We are very excited to have the opportunity to work with the Town of Pearisburg and Giles County communities to ensure the successful rehabilitation of this important community asset. By working together I am confident we will produce a renovated facility that everyone will be proud of” says Wishneff. “We appreciate the confidence the IDA has shown in us and we are looking forward to becoming an active part of the community”.
The Wishneff team recently developed all aspects of the $11 million silver LEED certified Our Health Campus project in Winchester, Virginia from initial design through construction, leasing and management. This renovation of a 37,000 sq. ft. historic former foundry into offices is now occupied by city and state agencies including the Winchester Department for Social Services and the Virginia Department of Health, and also houses many of the local non-profits including the United Way, Red Cross and Free Medical Clinic of Winchester. Federal and State Historic Tax Credits as well as New Market Tax Credits made this project a reality, and it has served as a catalyst for future development in this area of the city.
They are currently redeveloping the historic Taylor Hotel in downtown Winchester in partnership with the City of Winchester and their Economic Development Authority. The Taylor Hotel, which dates back to the 1840’s, has served in a number of uses over the years including a headquarters for Stonewall Jackson during the Civil War. Wishneff & Associates became involved in the project after several other redevelopment efforts failed and was able to put together a financing and use plan that allowed for the project to move forward. When the renovation is completed in 2013, the mixed-use project will include apartments, retail spaces and an outdoor pavilion that will host a variety of functions including concerts, farmers markets and outdoor movies.
Since their inception in 1995, Brian Wishneff & Associates has provided a variety of consulting and development services to clients throughout the United States. They have offices in Roanoke and in Washington D.C. Most of their recent work has focused on assisting both tax-exempt entities and for-profit developers take advantage of various tax credits and other financial incentives by monetizing these credits to help fund their real estate projects. Services provided typically involve the legal and financial structuring, securing and syndication of Historic Tax Credits (federal and state), New Market Tax Credits, Renewable Energy Tax Credits and other various tax credits. They have a history of working with both public and private entities on projects ranging from theaters and museums to hotels, office buildings and schools, and specialize in public-private partnerships and joint ventures. To learn more about Wishneff and Associates visit their website at www.wishneff.com.
For further information on this exciting project, or if you have an interest in becoming a part of this new development by locating your business within the development, please contact Doug Chittum at (540) 982-1317 or email Doug@wishneff.com