University of Iowa purchases Mercy hospital for approximately $40 million
The University of Iowa's Downtown Campus, now known as the University of Iowa Health Care Downtown Campus at 500 E Market St., is set to become an integral part of the Iowa City Downtown District. The city is actively working to expand the boundaries of the Downtown District to include this campus, reflecting the university's role in downtown development.
**Planned Future and Infrastructure Changes**
The expansion of the Downtown District boundaries seeks to incorporate the Health Care Downtown Campus, with the district's Self-Supported Municipal District (SSMID) status potentially enabling additional taxes on property owners within the expanded district. These funds could be used for downtown beautification, business support, and marketing efforts, benefiting the university campus and surrounding areas.
The vision for this integration includes potential infrastructure, streetscaping, and public realm improvements around the campus, enhancing its presence in the city's downtown.
**Potential Services and Community Involvement**
While specific new services connected directly to the university's campus acquisition have not been detailed, the Downtown District's role typically includes promoting and supporting businesses and community spaces. This could translate into improved amenities and services around the Health Care Downtown Campus.
The process of expanding the Downtown District boundaries is ongoing, involving collecting signed petitions from property owners in the proposed area. Following this, the Iowa City Council will vote on a resolution to approve the SSMID continuation and expansion, suggesting a community feedback and approval mechanism is in place.
**Current Operations and Investments**
Since the University of Iowa Health Care (UIHC) took over the Downtown Campus, patient volumes have remained consistent or seen increases in certain areas. The total cost to acquire Mercy Iowa City is expected to reach nearly $40 million, with UIHC committing to spending at least $25 million more for immediate facility upgrades in the hospital.
UIHC has created a new advisory committee involving six community members to gather feedback regarding services to be provided on the Downtown Campus. The transition of the Downtown Campus onto UIHC's electronic medical system, Epic, is currently underway, with a planned go-live date of May 4.
In times of capacity, UIHC has been able to redirect services from the Downtown Campus to its main campus, ensuring scheduled procedures are not rescheduled. UIHC administrators are also considering which services to invest in, co-locate on the academic main campus, and move to the Downtown Campus.
[1] Source: The Gazette, UIHC news releases, and UIHC Downtown Campus updates.
- The additional funds gathered from the Self-Supported Municipal District (SSMID) status, if granted to the expanded Downtown District, could be allocated towards projects such as science and health-and-wellness initiatives, or even business investments, given the combined focus on health care and downtown development.
- In the future, the University of Iowa Health Care Downtown Campus could share resources or collaborate with local businesses for medical-condition research, contributing to advancements in science and finance within Iowa City.
