HUD deal to contruct a 223-bed hospital and medical office building in Hopewell, Mercer County, New Jersey. It will replace Capital Health System's aging Mercer Medical Center, expand Fuld Hospital.
The U.S. Department of Housing and Urban Development(HUD) made a commitment to insure a loan to Capital Health System (CHS) in Trenton, New Jersey to construct a new 223-bed hospital in Hopewell Township, New Jersey to replace the existing Mercer Medical Center. The $777 million loan is made possible through the Federal Housing Administration's (FHA) Section 242 Hospital Mortgage Insurance Program.
In addition, the system's Fuld Hospital will create two new medical-surgical units and provide space to accommodate services transferred from Mercer. By insuring the mortgage loan, FHA enabled Capital Health System to obtain a lower cost financing, saving the hospital an estimated $487 million in interest payments throughout the life of the loan. (Source: HUD No. 08-186)
For the complete HUD press release, see my personal blog entry: click here for my corresponding personal blog article.
Copyright 2008 by Lawrence Yerkes. All Rights Reserved.
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