The move ended a failed six-year redevelopment plan for the hospital, which cost Charleston taxpayers more than $35 million, according to the report.
The city council’s decision likely means the 10-floor building will be demolished and developers will build a new county building on the property. The council also rejected plans to renovate the building, which would have cost an estimated $66 million.
The city bought the property for $2 million in 2012 and negotiated a redevelopment deal with a local development group. Under the deal, the group purchased the property for $5 million in 2014 and agreed to renovate three floors of the building and lease the space to the county for 25 years. However, financial issues regarding the redevelopment caused the county to back out of the transaction in 2016, the report states.
The development group declared bankruptcy shortly after the county backed out and filed a lawsuit against county officials. The two sides settled the lawsuit, with the county repurchasing the former Naval Hospital for $33 million.
To access the full report, click here.
More articles on facilities management:
A continuous assessment: Understanding compliance during new construction
7 hospitals planning upgrades, expansions
St. Luke’s deciding whether to build 80-bed hospital or repurpose 2 others: 6 notes
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
