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Einstein Gets Government-Backed Loan For E Norriton Hospital
The federal government is insuring a mortgage loan of more than $292 million for a new hospital in East Norriton. The government-backed loan is made possible through a Federal Housing Administration hospital mortgage insurance program. The Einstein Healthcare Network is building what it calls a regional medical center at the 84-acre Wood’s Golf site on Germantown Pike near Whitehall Road. The project will create an estimated 2,750 full-time construction jobs and pump more than $785 million into the local economy. When finished it will be a full-service acute-care hospital with 146 beds and 450 full-time employees. The plans call for a 360,000 square foot main building with a five-story patient tower. They also call for a two-story medical office building and parking for more than 1,000 cars. Germantown Pike would be widened in front of the site as part of the project, and Einstein will give East Norriton another million dollars for off-site road improvements.