Two of the region’s largest health systems are partnering on a $49.2 million development that will bring medical offices and retail space to Cold Spring.
Cincinnati Children’s and The Christ Hospital Health Network are working with real estate design-build developer Merus on a project anchored by two medical office buildings at what will be called Cold Spring Town Center. Each of the medical office buildings will be 45,000 square feet, which Merus will construct along with several retail/commercial buildings.
The 28-acre site, located at 3725 Alexandria Pike and currently vacant, is at the intersection of Alexandria Pike and Industrial Road.
The national nonprofit organization Disabled American Veterans, which sold the property to the city of Cold Spring and moved its headquarters to Erlanger in 2021, will also participate in the project. The four partners in the venture closed on the purchase of the property from the city in early July.
The two-story medical office buildings and four retail buildings will occupy about 17 acres, and Merus is working with the two health systems on a plan to develop the remaining half of the property.
The project will be constructed in two phases:
- Phase one includes four retail buildings – including a 9,500-square-foot, multi-tenant space and three graded pads for build-to-suit leases – with delivery targeted for the third quarter of 2026.
- Phase two will deliver the two medical office buildings for long-term tenancy.
Site construction is expected to begin later this year, with full site delivery by the end of 2028.
“This project shows what’s possible when strong partners rally around a shared vision,” said John Bumgarner, market leader at Merus. “It will bring better access to care, everyday retail, and long-term value to Cold Spring – and it’s the kind of integrated, high-impact development our team is built for.”
Cincinnati Children’s, which is the largest health system and employer in the region, will provide pediatric primary care at Cold Spring Town Center.
Cincinnati Children’s will occupy 10,000 square feet of its 45,000-square-foot medical office building, with an additional 5,000 square feet reserved for future patient services. The remaining 30,000 square feet will be leased out to other companies, preferably healthcare practices.
On the day the medical office building opens, the Cincinnati Children’s primary care office will be staffed by 21 employees. An additional 54 people are expected to work in spaces that the health system leases out.
“Our new location at Cold Spring Town Center will ensure that children in Campbell County have the support and services they need to thrive,” said Evaline Alessandrini, MD, chief operating officer. “Cincinnati Children’s is the nation’s leading pediatric health system, and we’re committed to providing families with world-class care that’s close to home in Northern Kentucky.”
The Christ Hospital Health Network’s new outpatient center will offer expanded primary care, women’s services and cardiology services.
The new location will be staffed by more than 50 team members and providers.
“We are excited to announce our partnership with Cincinnati Children’s and Merus to bring this new outpatient center to Cold Spring,” said Debbie Hayes, president & CEO of The Christ Hospital Health Network. “As we expand services to our patients closer to where they work and live, we know there’s a need for strengthening access to our services for families in Northern Kentucky. We look forward to bringing our award-winning care to Cold Spring through this new location.”