A rendering of the new seven-story, 362-bed new Valley Hospital in Paramus, NJ.

PARAMUS, NJ—Valley Health System's plans to build a new more than $700-million hospital here to replace its current facility in Ridgewood received a green light from the Paramus Planning Board last week.

The Planning Board unanimously approved the plans for The New Valley Hospital on Thursday evening. Valley Health System reports that its board of directors will formally adopt a resolution to proceed with the project at its next meeting in July.

Valley Health System first announced the new seven-story, 362-bed hospital project back in January 2017 after its expansion plans in Ridgewood received significant opposition. The new hospital project's estimated development cost is approximately $735 million, according to a report in the North Jersey Record.

Valley's new hospital will be part of a comprehensive healthcare campus developed on more than 40 acres off Winters Avenue in Paramus. The new hospital will be co-located with Valley's same-day-surgery, oncology and outpatient women's and children's services.

The site for the new hospital campus is 2.5 miles from its current location in Ridgewood and sits directly across the street from the hospital's comprehensive cancer and same-day-surgery centers. The site is also located near the Fashion Center, Paramus Park and the site of Valley's outpatient women's and children's services office complex (the former Mack-Cali building).

The hospital expects to break ground on the new hospital this year and plans to open the facility in 2023.

Back in August 2018, the new hospital project secured two gifts totaling $35 million to The Valley Hospital Foundation. The gifts include $20 million from an anonymous Valley supporter and $15 million from The Bolger Foundation, which was established by philanthropist David F. Bolger.

Instant Insights /

New Valley Hospital Project in Paramus Secures Key Approval

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