Address: 311 Mapleton Ave.
Original facility built: 1895
Assessor valuation (based off 2010 information): $14 million
Former uses: Boulder-Colorado Sanitarium, Boulder Memorial Hospital
Current services include: Boulder Center for Sports Medicine, pediatric rehabilitation, neurologic and orthopedic rehabilitation and counseling.
As Boulder Community Hospital continues its 10-year expansion project -- a $125 million overhaul that includes some shuffling of services across its campuses -- the hospital has not made a decision about the fate of its Mapleton Center facility in west Boulder.
"Our goal at this point is to get through the first two phases of our redevelopment project and determine what makes sense for the hospital and the community," said Rich Sheehan, a hospital spokesman.
Within the next three years, Boulder Community Hospital plans to move the acute care operations to its Foothills campus from its Balsam Avenue facility. The Balsam facility will receive a facelift and serve as the base for the rehabilitative services now housed at the Mapleton Center.
Although hospital officials have not listed the property at 311 Mapleton Ave., instead opting to take a wait-and-see approach, that hasn't stopped others from knocking.
Sheehan said the nonprofit Boulder Community Hospital Foundation has received several inquiries about the west Boulder facility that formerly was the Boulder-Colorado Sanitarium and Boulder Memorial Hospital.
None of those inquiries has been a formal offer, he said.
And if one was presented, "I'm sure we'd entertain it," Sheehan said.
Any changes to the Mapleton Center most likely would not come for a couple of years. Boulder Community intends to occupy that facility until late 2015 at the earliest, he said.
That's when, according to the current project timeline, Boulder Community would start moving the rehabilitation and other therapy services -- minus the therapy pool -- to a newly refurbished facility off Broadway and Balsam.
That move would be the final phase of the extensive project.
"Our focus at this point is expanding our facility at Foothills Hospital and then moving the major inpatient acute services to that campus," he said.
The nearly 15-acre 311 Mapleton Ave. property was valued at just over $14 million, according to Boulder County assessor records. That valuation most likely was determined by a cost approach in which the assessor valued the land using the going rates for the commercial price of land in that area, incorporated the cost to construct the building and then accounted for depreciation, Boulder County Assessor Jerry Roberts said.
That valuation was based off market prices in June 2010, he said.
If the property were to sell, prime potential uses could be a retirement community or apartments, said Todd Walsh, a commercial real estate broker with The Colorado Group in Boulder.
"I can only imagine apartment developers would be interested," he said. "But for (a retirement community), I think there's strong demand for that. It's almost perfectly built out for just such a user."
Boulder's commercial real estate sector has experienced a resurgence during the past 24 to 36 months, Walsh said, noting tighter vacancy rates, limited concessions and increased rates.
"My belief is the momentum is genuine," Walsh said.
Contact Camera Business Writer Alicia Wallace at 303-473-1332 or firstname.lastname@example.org.