Adena Signs 15-year Lease for Carlisle Property
Adena Health System today signed a 15-year lease to occupy downtown Chillicothe’s iconic Carlisle Building. Once renovations by Cleveland-based historic development firm, The Chesler Group, Inc. (TCG) are complete, Adena will occupy 100 percent of the building, using the first floor for community-focused business operations and the upper floors as housing for physician residents and medical students.
The 35,100 square-foot, $7-million project includes the revitalization of the Romanesque Carlisle Building, located at the corner of Paint and Main Streets, in the heart of Chillicothe’s downtown. The facility will include approximately 32 apartments for residents and students.
“With the solid support of the Adena Board of Trustees, we have taken on this project as a way to meet the housing needs of the young doctors we are bringing to Chillicothe for training; and to give back to the community that supports us by helping to spur economic growth in our downtown,” said Adena President and CEO Mark Shuter. “Adena is proud to be able to make this commitment to Chillicothe, our longtime hometown.”
Adena’s growing Graduate Medical Education (GME) program has made it necessary for Adena to invest in housing for physician residents and medical students who are training at the local hospital. Shuter added, “By locating dozens of young professionals in downtown apartments, and employees in first-floor offices, Adena can help generate future economic development, bringing in dollars and creating jobs.”
The Carlisle Building was built in 1885, and is located in a pivotal downtown location. It suffered extensive damage as the result of a 2003 arson, and has been vacant ever since. The importance of this community revitalization effort has been recognized by JobsOhio, the City of Chillicothe, and the Chillicothe Ross Community Foundation, all of which have played pivotal roles in assisting TCG to make this project possible. TCG will also utilize Federal and State Historic Tax Credits for the project, which is expected to begin this spring and conclude in late 2015.
Mike Chesler, The Chesler Group and Mark Shuter, Adena President and CEO, sign lease agreement.