From Mail Tribune:
People's Bank of Commerce and Medical Eye Center are collaborating on a three-story, 20,242-square-foot building near the recently completed Medical Eye Center building on the northeast corner of East Barnett Road and Highland Drive, not far from the new south Medford freeway interchange.
People's Bank of Commerce's new headquarters and fourth branch office will occupy the first and third floors on a corner lot just west of the Medical Eye Center on Barnett.
The 13-year-old bank, headquartered on Biddle Road, has branched out to Central Point and Ashland in recent years.
Ken Trautman, People's Bank chief executive officer and president, said he anticipated a November 2012 move-in date.
"We're taking advantage of a sizable location and low cost," Trautman said. "It's the perfect time to buy and build in a down market."
Trautman said the bank leases its present Biddle Road headquarters, but is in a joint venture with Medical Eye Center on the project.
"Owning versus leasing will save us $2 million over a period of 20 years," Trautman said.
Administrative offices and residential lending will be on the third floor with teller services and commercial lending on the first floor.
9/2/11 UPDATE:
Old two story apartments that were on the lot have been leveled to make way for site prep work.
