This 1,120-car garage and 20,000-square-feet of general retail space is located on the main campus of St. Joseph’s Regional Medical Center. The project was part of the hospital’s $200 million expansion of its Paterson, NJ campus.
The project’s first phase included retail space, approximately 1,120 parking spaces and the demolition of an existing garage. The second phase will include the balance of the parking, which will serve as the base of a proposed 176-room select-service hotel.
Garfield’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.
Garfield’s tax-exempt 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 parking fees and retail lease income.
The facility was delivered ahead of schedule and well below budget using a Design-Build delivery. Standard Parking Corporation operates the facility.