Cone pays $11.75 million for planned Pyramids Village health complex (2024)

Cone Health’s Greensboro real-estate expansion spree continued with Tuesday’s announcement it has paid $11.75 million for seven tracts that will be converted into a health and wellness complex at the Pyramids Village center near Cone Boulevard.

The seven tracts, six of which are undeveloped, represent a combined 31 acres around the Shoppes at Pyramids Village, which is anchored by Walmart.

The seller is Linder Ventures III LLC of Greensboro, according to a Guilford County Register of Deeds filing Tuesday.

The flier also features a 2.3-acre lot for a potential hotel, as well as retail pad sites and 15 acres for a potential multi-family residential campus.

Cone said the purchase is part of a $150 million investment commitment “to improve health and increase life expectancy in underserved areas.”

Cone said the complex is expected to serve residents not only in east Greensboro, but also rural areas of southeast Rockingham County and part of Guilford County.

In May, Cone spent $14.25 million to acquire about 30 undeveloped acres off Horse Pen Creek Road to expand its presence in northwest Greensboro. The tracts are at 2843 and 2855 Horse Pen Creek Road. Cone said it has no immediate plans for its development.

In 2023, Cone unveiled its goal of “reducing a 15-year gap in life expectancy by five years over five years” through its Catch 5 in 5 efforts.

“Closing the life-expectancy gap requires a community-wide effort,” Dr. Mary Jo Cagle, Cone’s president and chief executive, said in a statement. “But, it begins with being able to get medical care and wellness advice that’s convenient and affordable.”

“This (health and wellness) project has been years in the making and residents in east Greensboro and surrounding communities will benefit for decades to come.”

Cone said among the goals from the complex is opening facilities that will allow a customer to see a provider, get blood draws, X-rays and other medical tests in one location.

It also may include a pharmacy and wellness aspects, such as teaching kitchens and classroom space.

The Cone land purchases could be a move to bolster Cone’s presence in the area.

The 160,000-square-foot MedCenter Greensboro facility, which opened in May 2022, is about 1.5 miles away at 3518 Drawbridge Parkway.

There’s also a LeBauer HealthCare primary-care facility on Jessup Gove Road and a rehabilitation facility in the area.

The $97 million MedCenter Cone facility includes an emergency department, ambulatory care center, imaging, physical therapy, cardiology, wellness programs and 13 overall services.

Although the Catch 5 in 5 initiative is focused primarily on east Greensboro, there will be components in Alamance, Forsyth, Randolph and Rockingham counties.

A key element will be establishing a medical office complex in east Greensboro.

Although Cone said it is too soon to provide specific project-investment amounts, the proposed medical office complex could house urgent care, primary care, pharmacy, radiology, lab and preventive health and wellness services.

Some of the projects are being done in collaboration with the city of Greensboro, such as reconstructing or remodeling several east Greensboro facilities with Cone adding medical services at those sites. Some possibilities include:

* Windsor Chavis Nocho Community complex: The city and Cone are discussing collaborative opportunities, including the possibility of hosting Sagewell Health & Fitness programs

Sagewell offers medically supervised fitness programs, as well as wellness and health education programs. This facility is slated to open in late 2026.

* Vance Chavis Library: Cone is exploring the possibility of using the library to create a community health hub that will connect people with primary care and specialists virtually. It is also considering hosting wellness programs.

* Warnersville Recreation Center: A variety of health and wellness programs sponsored by Cone will be offered at the facility.

“Other facilities and digitally connected health hubs could be conveniently located in both rural and urban areas,” Cone said. “Next steps include research in these communities with key stakeholders to help tailor specific services and facilities to those populations.”