A rigorous study by Princeton Healthcare System (PHCS) concluded the current acute care campus of the University Medical Center at Princeton (UMCP) and physician facilities are insufficient to accommodate increasing patient volume, advancing medical technology, and important new clinical services. It asserted that a major facility replacement is a fundamental requirement to support the implementation of the vision, major goals, and strategic initiatives that have been identified as critical to future success. This grant supports the cost of replacement and relocation of UMCP. This grant provides $5 million of the approximately $52 million in grant funds needed to make the $375-million project viable. Other sources of funds will come from the issuance of bonds, the sale of property, and unrestricted cash on hand over the next five years. As the earliest large contribution to the project, the Foundation's grant would be seen as an endorsement for the UMCP plan and is expected to help attract other support to the capital campaign. The plan was developed through a highly participatory process that included PHCS trustees, administrators, more than 90 physicians, employees, volunteers, former patients, civic leaders, and residents from the communities UMCP serves. The deliverable of this project will be a new state-of-the-art, 234-bed community teaching hospital that will provide the facilities and equipment to support the extension of the care it has supplied for more than 85 years to residents and institutions in its traditional, 19-community primary service area. The new UMCP facility will be located on a campus of 50 or more acres within 6 miles of its current site.
Amount Awarded $5,000,000.00
Awarded on: 11/2/2005
Time frame: 12/1/2005 - 11/30/2006
Grant Number: 55884