March 24, 2016
A revised deal between Rowan and Inspira Health Network has been reached regarding 100 acres of university land near Route 55 just outside Glassboro, New Jersey, CBSPhilly reports.
According to CBSPhilly, the price for the 100 acres of land in Gloucester County jumped from $9.5 million to $11.5 million. Rowan trustees wanted additional money after a new appraisal was done and to address competition concerns involving Kennedy Health System, which has an existing educational partnership with the college, CBSPhilly said.
According to CBSPhilly, the deal involves the building of a new hospital and an education partnership between Inspira and Rowan University. Under the deal, $1 million will be set aside for internships for Rowan’s health sciences students, Rowan spokesman Joe Cardona told KYW Newsradio.
The next step is for Inspira to secure permits to build the hospital. If the project is not completed in four years, Rowan will gain the rights to buy the land back if desired.
CBSPhilly said the sale is expected to close in May.
Read the full CBSPhilly report here.