Developer proposes building 93-room hotel at St. Joseph’s Hospital Health Center

RPS Hotel Holdings, a developer, has asked the city of Syracuse, N.Y., to use its eminent domain powers to acquire property upon which it plans to build a seven-story, 93-room hotel, apartments and medical offices connected to St. Joseph’s Hospital Health Center, according to Syracuse.com.

Advertisement

RPS Hotel Holdings’ plans would include:

  • A 53,673-square-foot “national brand” extended stay hotel to cater to the families of patients from outside the area
  • 13 apartments for medical residents and student nurses
  • 36,787 square feet of commercial space for medical offices
  • A two-floor, lower level garage with 207 parking spaces

The building would be connected to the hospital by a pedestrian bridge.

RPS would demolish five single- and multi-family homes to make space for the project. Six of the seven properties that would need to be demolished are under the control of St. Joseph’s or CNY Affordable Properties. RPS has an option to buy them, but efforts to purchase the seventh property have been unsuccessful. In an eminent domain action, the Syracuse Industrial Development Agency would take possession of the property in court, then pay the owner a price determined by the court to be fair market value.

More articles on finance:
UMC in financial turnaround less than 2 years after receiving $25.5M in loans
Obama administration to outline ‘next chapter’ for ACA
Moody’s assigns ‘Aa2’ rating to BayCare Health System’s bonds

Advertisement

Next Up in Financial Management

Advertisement

Comments are closed.