[Artist's rendering of planned medical offices on paper's site]
Broad shifts in the national economy come into sharper view through the lens of what's happening to real estate Gannett sold last year near Binghamton, N.Y.: as Baby Boomers age, the health care industry is on the rise, and traditional newspapering is on the decline.
United Health Services confirmed yesterday that it plans to build a new medical office complex on land that had housed the Press & Sun-Bulletin in Vestal, N.Y., until Gannett sold the property last year, then moved the newspaper to smaller quarters near the airport.
The new 85,000 square-feet UHS building will include primary care physician offices, a walk-in center, diagnostic imaging and a pharmacy, and is expected to open in 2012. "In light of the aging of the Baby Boom generation, increasing consumer demand for health care services, and health care reform, communities today need greater access to convenient, accessible and affordable primary care,'' UHS CEO Matthew Salanger said.
Amid declining advertising revenues, Gannett has been raising cash by selling real estate it no longer deems useful, and consolidating production at a growing number of hubs.
The Press & Sun-Bulletin's printing was previously shifted to a production plant opened in 2006 in Johnson City; it also produces Gannett's Star-Gazette of Elmira, and The Ithaca Journal.
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