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LOUISVILLE — The hospital system that operates AdventHealth Avista in Louisville recently <br />purchased a plot of land within the Redtail Ridge district <br />This newly acquired property near the U.S. Highway 36 and Northwest Parkway interchange <br />is likely where AdventHealth Avista intends to build a new hospital to replace the existing <br />facility at 100 Health Park Drive. <br />For the past half -decade, developers, including the property's current owner and master <br />developer Sterling Bay LLC, have had their sights set on building a 2.55-million-square-foot <br />biotechnology- and health care -centric business park on the roughly 300-acre Redtail Ridge <br />property, which was previously home to a massive Storage Technology Corp. campus. A new <br />AdventHealth Avista hospital — the hospital system had been under contract to purchase a <br />roughly 40-acre tract within the property for about three years — has long been considered <br />a key element in the broader Redtail vision. <br />Boulder County real estate records show that Redtail Ridge Portfolio LLC, an entity <br />registered to the Chicago address of Sterling Bays offices, sold the parcel to Portercare <br />Adventist Health System, an entity registered to AdventHealth's regional office in Greenwood <br />Village, in mid -February for $34 million. <br />Hospital leaders have long said that Avista suffers from accessibility issues. The hospital's <br />vulnerabilities were highlighted during the Marshall Fire in late 2021. <br />ADVERTISING <br />The site is accessed only by Health Park Drive, which dead -ends at the hospital. Over the <br />years, the hospital has been unsuccessful in securing a new interchange off of U.S. Highway <br />36. Poor access adds to the time required to reach the facility, making it difficult to attract <br />new patients. <br />Additionally, Avista's landlocked location does not offer opportunities to expand, hospital <br />officials have said, with the community missing out on potential new services because the <br />hospital has no room to grow. A new hospital at Redtail Ridge would provide Avista with a far <br />larger market service area, putting it closer to a wider population base. <br />Representatives with Avista and Sterling Bay were not made available for comment prior to <br />publication of this story. <br />Denver developer Brue Baukol Capital Partners LLC bought the entire Redtail property from <br />Phillips 66 (NYSE: PSX) in 2020 for $34.93 million. As part of a July 2022 real estate <br />transaction conducted by a series of holding companies, Sterling Bay acquired the site from <br />Brue Baukol forjust under $128 million, Boulder County warranty deeds show. When <br />Sterling Bay entered the picture, the developer added plans for flex -lab -office spaces aimed <br />at biotechnology tenants. <br />3 <br />Coffee Talk - First Thursday of Every <br />Month! <br />APR <br />Northern Colorado 2025 Women's <br />8 <br />Success Summit: Unlock Your Profit <br />APR <br />Power <br />View Calendar <br />Submit your event <br />