[NEWS] Bankruptcy judge tentatively approves Girard Medical Center sale | Project HOME

[NEWS] Bankruptcy judge tentatively approves Girard Medical Center sale

 

From the Philadelphia Inquirer

Pending final review, U.S. Bankruptcy Judge Magdeline D. Coleman on Tuesday said she would approve the sales of North Philadelphia Health System’s properties at Eighth Street and Girard Avenue for a combined $10.25 million.

The bulk of the property, including Girard Medical Center and the associated Goldman Clinic, a methadone clinic, will go to Ironstone Real Estate Partners for $8.5 million. Ironstone intends to maintain the property as a behavioral-health and drug-treatment center as long as it has an agreement with a care provider to operate the facilities.

Additional parcels are being sold to Project HOME, which will pay $1.75 million. It wants to build a $13 million LGBTQ-friendly affordable-housing project, with a second building planned for the future.

The bankruptcy auction was Friday.

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Posted on 3/29/17