PCI shareholders approve MedQuarter expansion
The medical group will construct a second building and parking structure
| || |
CEDAR RAPIDS — Shareholders for Physicians’ Clinic of Iowa have approved the medical group’s expansion about two months after the project was first announced.
The approval means PCI will move forward with construction of a second medical building and a new parking garage in Cedar Rapids’s MedQuarter Regional Medical District.
PCI’s project includes a 98,000-square-foot, three-story medical building along Tenth Street SE, between Second Avenue SE and Third Avenue SE. The group also will construct a 400-space parking ramp at the corner of Third Avenue SE and 12th Street SE.
The expansion will use covered walkways to connect to PCI’s current Medical Pavilion, a 221,000-square-foot building that cost about $47 million to build.
“When we opened the first medical pavilion four years ago, the intent was to fill the space over five years,” PCI CEO Michael Sundall said in a statement. “It was full after just three years, making additional expansion a priority.”
A spokeswoman for PCI did not immediately respond when asked for cost and timeline estimates for the expansion.
PCI first announced its new building plans in April, but said at the time they were only “exploratory.” Those initial plans included a 100,000-square-foot second building and a 500-car parking garage.
Leaders for the city and the MedQuarter were quick to praise the project. A city spokeswoman also said in April PCI’s project would qualify for Cedar Rapids’ standard incentive — a 10-year, 50-percent reimbursement of the increased property taxes generated by the project.
l Comments: (319) 398-8366; firstname.lastname@example.org