Former hospital in foreclosure

By ANDY HOGUE, Register Staff Writer

June 23, 2008 11:38 am

— News that the former Gainesville Memorial Hospital building is being foreclosed upon is only half true.
That’s because half of the building has been sold and the other half appeared on a list of foreclosures in Cooke County last week.
According to information from the Cooke County Clerk’s Office, the multi-level portion of the former Gainesville Memorial Hospital, 1016 Ritchey St., was mortgaged in the amount of $300,000 on Nov. 15, 2005.
In September of 2005, the vacant building was used as a temporary shelter for two busloads of Hurricane Katrina evacuees from the New Orleans area.
The hospital building was vacated earlier in 2005 when it moved to the newly constructed North Texas Medical Center on West U.S. Highway 82.
Note holders Paul Sidener and John Patterson of Investors Equity Group could not be reached for comment by press time.
According to the information, Investors Equity went default on their payments, and a sheriff’s sale will take place on the east side of the Cooke County Courthouse steps between 10 a.m. and 1 p.m. July 1.
No further information was available by press time.