The new deal was created in response to community concerns about the initial plan by the Rudin development family to convert eight former hospital buildings into luxury housing, according to the report. St. Vincent’s Hospital went bankrupt and closed in 2010.
Under the new deal, developers will replace the former hospital with a freestanding emergency room; preserve a historic building on the former hospital’s site; reduce the number of new apartments (though not the square footage); put $1 million in a fund for affordable housing; and provide $1 million over 10 years for arts education in local schools. In addition, the state agreed to convert a building near the former hospital to a new public school, which has been a long-time desire of the community.
The City Planning Commission, full City Council and Landmarks Preservation Commission need to approve the plan, although it is expected to pass.
Bill Rudin, managing partner of Rudin West Village, said he expected the $900 million project to be finished in 2015, according to the report.
More Articles on St. Vincent’s Hospital:
Manhattan District Attorney Investigating St. Vincent Bankruptcy
Shuttered St. Vincent’s Manhattan Will Reopen as Emergency, Ambulatory Surgery Center Operated by North Shore-LIJ
Without a Suitor, New York’s St. Vincent’s to Close
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