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City’s ‘medical corridor’ slated for more growth

City’s ‘medical corridor’ slated for more growth

Germantown’s “medical corridor” on Wolf River Blvd. is primed to continue its ongoing growth.

The city’s Planning Commission was scheduled to discuss zoning options for more than 15 acres of the “Fulmer Farm” property Tuesday night at its regularly scheduled meeting.

Currently zoned “residential,” owners and developers are requesting that the property be rezoned to “office” in hopes that three medical facilities will be built on the unoccupied land.

Price Ford of Ford Jarratt Realty and Development Company said the initial building would be constructed just west of Wolf River Blvd., adjacent to the Vineyards subdivision. The two-story “class A medical office” would be more than 50,000 square feet.

Two more offices of comparable size are scheduled to be constructed behind the first building.

Construction costs for the first building are estimated to be nearly $12 million.

The property tax revenue anticipated for Germantown for the first phase of the project is $93,365 annually. Construction is estimated to take nine months.

Once complete, the three offices are expected to create 200 full and part-time jobs.

After all three phases are developed, the offices are expected to generate nearly $300,000 for the city annually, according to Ford.

Germantown’s medical gateway corridor at the intersection of Germantown Pkwy. and Wolf River Blvd. has continued to grow since last year.

Last February, the city’s Industrial Development Board approved an eight-year PILOT (payment in lieu of taxes) for Campbell Clinic, which is set to build a four-story facility at its current location.

The $30 million development will add 185 new jobs in the next three years.

The deal will save the orthopedic group, which initially requested an 11-month PILOT, around $3 million in taxes.

Construction on the new 5-acre building, which is adjacent to the facility, began last spring.

In 1973, the city annexed 190 acres of Fulmer Farms. The land is currently part of the residential farm land owned by the Fulmer family, which maintains a house to the south of the new office area.

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