This 1,365-car garage and 20,000-square-feet of general retail space will be located on the main campus of St. Joseph’s Regional Medical Center. This project is part of the hospital’s $200 million expansion of its Paterson, New Jersey campus.

 

The project’s first phase includes retail space, approximately 1,120 parking spaces and the demolition of an existing garage. The second phase includes the balance of the parking, which will serve as the base of a proposed 176-room Hyatt Place® hotel.

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Garfield Traub’s design and phasing solution maximized the potential of the tight urban site while maintaining existing garage operations and providing vehicular and pedestrian access to the hospital’s new lobby and main entrance.

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Garfield Traub’s financing solution enabled hospital facility ownership via a ground lease, not impacting the hospital’s credit, and preserving its financial capacity for other campus projects.  Bonds will be repaid by staff and visitor parking fees and retail lease income.