The project was approved last November by state regulators and construction was supposed to start this month.
Hospital officials have stated, according to the report, that the current economy makes borrowing money too expensive for them to move forward. Recent estimates show that Catawba Valley Medical Center would get a fixed interest rate of 8.5 percent on bonds it would sell for the project, which would cost the center millions in interest payments each year.
The 83,000 square feet of new construction and 46,000 square feet of renovations were intended to expand the hospital’s operating rooms, and its oncology and women’s and children’s services.
Read the Charlotte Business Journal’s report regarding the Catawba Valley Medical Center expansion delay.
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