The borough assembly unanimously agreed March 12 to move forward with the sale of six borough-owned lots behind the former hospital property.
The six lots will be appraised and sold at market value to Wayne Johnson, a Georgia-based real estate developer. Johnson is planning to build a 48-unit, condo-style housing development with covered parking on the former hospital property and six adjacent lots.
The sales of the former hospital property and six adjacent lots are conditional upon each other, as Johnson has said he needs all the parcels for his development, which he has estimated at $13.5 million to $16 million to tear down the hospital building and construct the new housing.
The borough economic development board has recommended that the assembly approve the hospital property sale; the planning and zoning commission added its endorsement on March 14.
With assembly approval for selling the six adjacent lots, the borough will order appraisals of the property to determine the sales prices, with a public hearing and final assembly action scheduled for April 9.
The sale of the hospital property also is scheduled to come before the assembly for approval April 9.
Johnson has offered the borough $200,000 for the hospital property, which is below its appraised value of $830,000 and below the borough’s asking price of $470,000. Municipal code, however, allows the borough to sell property at less than appraised value in the interest of economic development, with the approval of the planning and zoning commission, economic development board and borough assembly.
If all the sales are approved, Johnson is hoping to close before May 30, with demolition later this year and construction in 2025 and 2026.
Reader Comments(0)