clock menu more-arrow no yes mobile

Filed under:

$1.6B St. Vincent's Redevelopment Plan in Jeopardy?

New, 11 comments

The money troubles plaguing St. Vincent's Hospital are no secret?they're what caused the hospital to pursue the controversial redevelopment plan that has deeply divided Greenwich Village. But are those problems too much for the 160-year-old hospital to overcome? The Post reports that a takeover bid by a rival medical group for St. Vincent's is gaining momentum. Continuum Health Partners wants to assume control of St. Vincent's and convert it to a community health center, which would drastically scale back St. V's current operations. The proposal reportedly has the support of a pair of St. Vincent's lenders, but would need the go-ahead from the state (State Health Commissioner Richard Daines is a former Continuum executive). How does this bit of medical intrigue intersect with our interests? Well, as the Post puts it, "The proposal throws into doubt St. Vincent's existing plan to build a new medical facility and sell its campus to the Rudin Co. for $300 million to erect a condo complex." Yikes. Looks like we may get another few decades to debate whether or not the O'Toole Building is ugly.
· Code red looms for St. Vinny's [NYP]
· St. Vincent's coverage [Curbed]