Rowan University’s trustees voted Tuesday to let the university administration sell about 100 acres of a Rowan satellite campus to South Jersey-based Inspira Health Network, which plans to build a new medical center worth $350 million on the land.
The move approved officials negotiating the sale of a section of Rowan’s West Campus, in Harrison Township, Gloucester County, about 1½ miles from the university’s main campus in Glassboro.
The university didn’t set a firm price for the deal; the trustees instead told the administration to “negotiate the price of the property based on today’s appraised value,” a spokesman said in a statement. Rowan bought the proposed hospital site, near the intersection of state routes 55 and 322, for $10.1 million about 10 years ago.
Ali A. Houshmand, Rowan’s president, called the planned sale “much more than a land transaction – it’s an expansion of a partnership.”