NEW ALBANY, IN-In the wake of healthcare reform, some observers believe that consolidations among hospitals and health systems will continue. As hospital finances become more stressed due to lower government reimbursements, many independent, weaker facilities are likely to be gobbled up by stronger systems. Furthermore, some struggling hospitals, especially those without strong market shares, are likely to close.
As a result, an increasingly common question is becoming: What happens to these old campuses? Often, such campuses are in good locations and have plenty of land for new structures.
One ex-hospital, a historic building that was once a tuberculosis facility and later a mental health center and school for disabled children, has found new life as a senior living community. A grand opening for the Villages at Historic Silvercrest in New Albany, a suburb of Louisville, KY, ook place earlier this month.
The main six-story building at 1 Silvercrest Dr. (formerly 1809 Old Vincennes Rd.) served as the 150-bed Southern Indiana Tuberculosis Hospital from 1940 until 1972, and then as the Silvercrest Children's Development Center from 1974 until high operating costs forced its closure by the state in 2006.
Local developer Matt Chalfant acquired the property in 2007 and transformed it into a continuing care retirement community. The idea was to transform the former hospital campus and main building into a senior complex with a hotel-like environment. Included are an indoor swimming pool, tennis courts, general store, movie theater, hair salon and other amenities.
The refurbished Art Moderne main brick building now houses 15 independent living apartments, 25 assisted living units and 54 skilled-care units. Louisville-based Trilogy Health Serv
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