Al Neyer recruits health care powerhouse for $80M project on contested site
Al Neyer has been working for almost two years to bring an $80 million health care facility to the site of Disabled American Veterans’ current headquarters in Cold Spring. We now know the health care system aiming to be part of the redevelopment.
St. Elizabeth Healthcare, the seventh-largest employer in Greater Cincinnati, confirmed it is working with Al Neyer as the health care partner for the development.
“While we do not have definitive plans at this time, we look forward to expanding access to quality health care in the Northern Kentucky community,” Sarah Wice-Courtney, director of communications and public relations, said in a statement to the Business Courier.
“This is a rare opportunity in my career to do a true public-private partnership with a community that has focused on what they want in their community and the ability to possibly partner with a great nonprofit in DAV,” said Dan Ruh, Al Neyer’s executive vice president and Cincinnati market leader.
Cold Spring Mayor Angelo Penque said reports indicating St. Elizabeth Healthcare is the health care provider interested in locating at the DAV site “is tremendous news for the people of Cold Spring and all of Campbell County.”
“We applaud the developer Al Neyer for partnering with an outstanding provider on this important and visionary project,” Penque said in a statement provided to the Business Courier. “I have been working for years to bring a quality health care provider to the city in an effort to expand care for not just Cold Spring but the entire community. A project of this scope will bring quality jobs, investment and tax revenue to the community.”
At a special city council meeting Jan. 13, Cold Spring city attorney Brandon Voelker said the proposed facility would have an estimated value of $80 million to $85 million. The health care facility would create about 240 jobs with an average annual salary between $85,000 and $95,000, according to minutes from the Jan. 13 meeting.
DAV advised it is agreeable to a purchase price of $6.5 million with the medical provider, the city and Al Neyer, according to the meeting minutes. Councilmember Paul Kloeker made a motion to authorize the mayor to enter into any and all contracts necessary for the purchase of the roughly 30-acre DAV property, located at 3725 Alexandria Pike in Cold Spring, either with the DAV and/or Al Neyer, or directly with the medical provider so the city of Cold Spring is able to purchase the property to ensure the construction of the medical facility. That motion passed unanimously.
Al Neyer and St. Elizabeth are not the only parties interested in the property. Campbell County School District is looking at using eminent domain to acquire the property. The board hopes to build a new school on the site.
On Dec. 30, the council in a special meeting voted to file its own lawsuit against the Campbell County School District Board and/or the Kentucky Department of Education for its interference in the land deal, according to Fort Thomas Matters.
DAV, a nonprofit charity that serves more than 1 million veterans throughout the country, is relocating its national headquarters from Cold Spring to Erlanger. Instead of building a new headquarters on its existing property at 3725 Alexandria Pike, DAV decided to move next to the Interstate 75/275 exchange.
St. Elizabeth Healthcare has 10,000 employees across its facilities in Northern Kentucky and Southeastern Indiana, as well as 165 St. Elizabeth Physicians specialty and primary care offices in Kentucky, Ohio and Indiana.