Hospital Donates Landmark to Development GroupPosted: Updated:
The chief executive officer of Richmond-based Reid Hospital says its donation of the historic Tivoli building to Center City Development Corp. comes at an "ideal" time for the city. Craig Kinyon says including the 1920s-era landmark in upcoming revitalization efforts can help Richmond achieve a "vital" downtown. Richmond was selected last month to receive major funding from the state's Stellar Communities program.
July 17, 2013
RICHMOND, Ind. - Thanks to Reid Hospital, a strategically located corner lot in the heart or Richmond's downtown is now officially owned by Center City Development Corporation, which plans to explore ideas on how the property can fit into downtown redevelopment opportunities.
The property, which includes what has been historically known as the Tivoli building, has been given to Center City by Reid Hospital, which has owned the property for decades after donation provisions were made in a 1909 will by turn-of-the-century philanthropist John B. Wakefield. The donation was celebrated in a brief ceremony at Center City's offices Wednesday afternoon.
"This lot is in a key location for our downtown," said Craig Kinyon, Reid President/CEO. "When it was donated to Reid, it came with the original 99-year lease that hospital officials at the time agreed to honor, and it has carried forward to several tenants over the years." Kinyon said timing of the donation is ideal on the heels of the city's Stellar Communities designation and plans to further develop and revitalize the city. He said the property, though owned by Reid, was never used for any hospital or health-related service.
"We at Reid realize the importance of a vital downtown, and see development of this area as something that will benefit all of our community," he said.
Jason Whitney, Executive Director of Center City, said the property location could play a major role as the downtown area further develops. He noted that it is adjacent to space that will soon be used by Indiana University East and also on a main intersection. "Somebody is going to be able to make something happen there," he said. "We are so appreciative that Reid officials are making it possible for us to take over a location that is vital for downtown's future."
Richmond Mayor Sally Hutton said the step by Reid is another in a series of good news for the city. "This donation by Reid will be a great addition to all the other wonderful things taking shape for our downtown development," Hutton said. "It's so exciting to see some of our dreams taking shape in the heart of our great city."
The property was most recently a sub-leased location for Hoppe Jewelers, which has moved to a new location on Richmond’s east side. The most recent lease for the property was with Kerasotes Theaters. Whitney said Center City will begin exploring ideas for the property early next year when the lease expires in January.
Center City Development Corporation of Richmond-Wayne County was formerly known as Main Street and is a not-for-profit community development organization that has served as the leading advocate for downtown Richmond for more than 20 years. It expanded recently to include the Depot District and Riverfront District.
The Tivoli property was originally given to Reid in a bequest from the John Wakefield estate, and came with an assignable 99-year lease. Tenants have paid a fixed rent to Reid since 1935, with those funds going to Reid Foundation in recent years.
Source: Reid Hospital