JERSEY CITY, NJ—Barnabas Health has paid $24 million for a 2.4-acre city-owned vacant parcel adjacent to the Jersey City Medical Center that it will use to expand the hospital.
The sale price is double the amount the previous administration sought for the parcel, according to the Jersey Journal. Mayor Steve Fulop praised the deal as "major progress" for the site and for the city.
"We saw the opportunity to elevate the worth and find redevelopers in Barnabas Health who fit into the vision of what we are building in Jersey City—a world-class city with increased public and private assets that will benefit all of our residents," Fulop states.
City officials at one time proposed constructing a City Hall annex there. Former Jersey City Mayor Jerramiah Healy attempted to sell the parcel to a New York-based developer for $15 million. The city assumed the sale price would be $12 million when it was included at one point in the 2013 city budget.
Barnabas Health plans to propose medical offices, mixed-use development and parking at the site. See story in the Jersey Journal.
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