A Texas developer has acquired the 4-acre site in Greenfield where it plans to build a new inpatient physical therapy rehabilitation hospital.
According to state records, the site of a former Knights of Columbus building at 3200 S. 103rd St. was sold to NEC Milwaukee LP for $1.9 million. The buyer is an affiliate of Grapevine, Texas-based New Era Companies LLC.
A 48,000-square-foot, three-story hospital with 40 inpatient beds is to be built there. Allen, Texas-based Nobis Rehabilitation Partners will operate the Milwaukee Rehabilitation Hospital. The project developer is Irving, Texas-based WB Development Partners.
New Era and WB Development have partnered on other projects. The two companies recently broke ground on a 40-bed inpatient hospital in Shreveport, Louisiana. That hospital is also to be operated by Nobis.
The project team did not return requests for comment on the property sale.
The city of Greenfield is contributing about $2.5 million toward the project through tax incremental financing. The spending includes $2.2 million in development incentives and $250,000 for street improvements and $58,000 in administrative expenses.
The newly created TIF district received its final approval in April. The city expects the project will generate approximately $18.2 million in property value.
Project plans were approved by the Common Council in February, Andrew Stern, a planner with the city, said.