Contact: Tedra White
ProMedica Announces Plans to Move Business Offices to Downtown Toledo
posted on: 03/27/2014TOLEDO, Ohio, Feb. 4, 2014 – ProMedica has announced plans to relocate its headquarters and several area business offices to downtown Toledo. The health system’s new home will be the former Toledo Edison Steam Plant and the KeyBank office building downtown on Summit Street.
The move will bring approximately 700 administrative employees together at one central campus. ProMedica has more than 15,000 employees in northwest Ohio and southeast Michigan.
ProMedica officials have also signed a letter of intent with KeyBank to purchase its regional office building next to the steam plant on Summit Street. The intent is for KeyBank to retain one floor for its employees and ProMedica to occupy the other floors.
ProMedica will renovate the steam plant to create several levels with the intent to establish an open, contemporary environment that encourages a more collaborative culture. At the same time, ProMedica officials say they will preserve architectural elements of the historic steam plant. There are also discussions between ProMedica and another community partner about the possibility of bringing a fitness center to the downtown campus.
The estimated cost of the project is expected to range from $20-$40 million. Funding will come from multiple sources, including the sale of existing ProMedica-owned properties acquired over the past decade to accommodate its growing business operations and workforce, and by applying for potential historical tax credits.
One key to moving forward with this plan is the ability for ProMedica to identify close, convenient parking for its employees. ProMedica is currently reviewing multiple options with Toledo city officials regarding parking.
By consolidating into one centralized location, ProMedica hopes to create greater efficiencies and increase synergies between employees who will be able to work together under the same roof.
According to President and Chief Executive Officer Randy Oostra, the decision to move downtown will be a positive one for ProMedica and signifies the organization’s strong and ongoing commitment to Toledo.
“We feel strongly about making a commitment to downtown Toledo and playing a key role in its revitalization," said Oostra. “ProMedica is deeply invested in this community and we look forward to all of the exciting possibilities for our city that could come out of this new partnership with the city, KeyBank and other area businesses.”
“We anticipate that this move would have a significant economic impact to downtown Toledo and provide stimulus to bring additional businesses and retail back to the city core,” said Stephen Staelin, chairman of the ProMedica Board of Trustees. “At the same time, we are thrilled about the opportunity to revitalize the iconic steam plant and the riverfront.”
ProMedica officials say the steam plan was chosen because of its rich history and proximity to the riverfront. The idea is to design an environment that is vibrant, engaging and encourages collaborative activities between employees of ProMedica and other area businesses.
Toledo, Ohio-based ProMedica is a mission-based, not-for-profit healthcare organization formed in 1986. ProMedica has more than 15,000 employees and nearly 1,900 physicians with more than 600 healthcare providers employed by ProMedica Physicians. Its 12 hospitals and more than 300 facilities offer comprehensive diagnostic, medical and surgical specialties in heart and vascular, oncology, orthopaedics, neurology, and women and pediatric services. ProMedica’s mission is to improve health and well-being, with a strong focus on wellness and clinical excellence, as well as innovative, community advocacy programs that address health-related issues such as hunger and obesity. For more information, please visit www.promedica.org.