Martha Jefferson’s Locust Avenue campus has been sold to Octagon Partners, which will manage the re-development of the site after the hospital moves to its new location on Pantops in 2011.
While the hospital has been looking for a developer for its downtown campus for years, Octagon Partners submitted a proposal in April and won out against other developers.
“Octagon Partners are thrilled to be working with Martha Jefferson Hospital on the re-design of the property. We believe it can be transformed into an asset that will continue to benefit the Charlottesville community,” said J. P. Williamson of Octagon Partners.
Martha Jefferson will completely vacate the site by January 1, 2012. Plans call for the new facility on Pantops to open next August.
Octagon recently completed the Gleason project just south of Downtown. Previous projects include the redevelopment of the Hardware Store building on the Mall.