Princeton HealthCare System closed on the sale of its former hospital campus in downtown yesterday, hospital officials announced today.
The hospital campus is comprised of the hospital building at 253 Witherspoon Street, a parking garage, and nine houses on Harris Road—as well as two medical office buildings located at 277 and 281 Witherspoon Street.
The hospital building, the garage, and the houses on Harris Road were sold to Avalon Princeton, LLC. The company is going to tear down the hospital building and build 280 apartment units at the site.
The medical office buildings were sold to Herring Properties. The company plans to renovate both buildings and lease space for commercial and medical offices.
Princeton HealthCare will continue to maintain its outpatient phlebotomy services and neighborhood information center in the building at 281 Witherspoon Street.
The closing comes a week after a citizen group lost a lawsuit in Mercer County Superior Court to block the AvalonBay development. The demolition of the hospital building is slated to start this spring.