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Peconic Bay plans to expand with purchase of former bank property

Peconic Bay Medical Center is in the process

Peconic Bay Medical Center is in the process of acquiring a former bank property on Second Street in downtown Riverhead. The expansion would house ambulatory services, hospital officials said. Photo Credit: James Carbone

Peconic Bay Medical Center is planning to expand its medical facilities, pending the acquisition of the former Suffolk County National Bank property in downtown Riverhead, hospital officials announced late last week.

Once the nearly 60,000-square-foot space on Second Street is acquired, the hospital expects during a two-year period to convert the space into a facility housing a series of ambulatory services, Andrew J. Mitchell, the hospital’s president and CEO, said on Friday. Those services will be for thoracic surgeons, neurologists and neurosurgeons. Mitchell added that hospital officials also are discussing adding other specialty and ambulatory surgery services.

“The main campus [on Roanoke Avenue] is growing exponentially, and we need more space, so this will have complementary services to the programs that are being introduced on the main campus,” Mitchell said.

While Mitchell could not disclose the costs of acquiring the former bank property, projected job figures or estimated final costs for the Second Street facility due to ongoing negotiations, he said Peconic Bay would fund part of the costs through its New Era Campaign, the hospital’s fundraising initiative. The campaign, launched in June, also is raising money for Peconic Bay’s $60 million major critical care tower for which the hospital broke ground in July. The tower is expected to be completed over two years.

Peconic Bay executed a contract on Thursday to purchase the Second Street property from People’s United Bank, and the transaction is expected to close before the year’s end, Mitchell said. However, about 50 to 100 administrative staffers will begin occupying part of the space after Labor Day.

Riverhead Town Supervisor Sean Walter said the expansion is expected to bring new jobs, boost downtown businesses and generate tax revenue for the town.

“The growth of our community hospital into a world-class regional medical center is a boost for the entire region, and we are thrilled to see People’s United and PBMC strengthen their commitment to our community,” he said.

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