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Jersey City Medical Center seeks discharge of deed restriction; JCRA negotiated $26.75 million payment to city
Summary
The Jersey City Redevelopment Agency and hospital representatives asked the municipal council to authorize discharge of a decades-old deed restriction so Jersey City Medical Center can finance a multi-building expansion and parking garage; the JCRA negotiated a $26,750,000 payment to be passed to the city.
The Jersey City Redevelopment Agency asked the municipal council on Monday to authorize discharge of a deed restriction tied to land formerly purchased in partnership with the New Jersey Economic Development Authority to enable an expansion at Jersey City Medical Center. Diana Jeffrey, director of the Jersey City Redevelopment Agency, said the hospital’s planned project would increase ambulatory care and beds and requires lifting the restriction to proceed with financing.
The change matters because it would free a small portion of a 15-acre campus for sale and financing that the hospital says is necessary to build a multi‑story parking garage and three medical office buildings. “If the deed restriction is discharged,” Jeffrey said, “the project that they’re…
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