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GREYSTONE PARK REUSE STUDY

Parsippany, NJ

Designed by Samuel Sloan to reflect the treatment ideals of Dr. Thomas Story Kirkbride, a pioneer in the field of mental health, the Greystone Park Psychiatric Hospital has been a stately presence in the Morris County landscape for over 130 years. Many of the complex's oldest and most significant structures have been vacant and deteriorating for several decades. 

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​Urban Partners was retained by the State of New Jersey to examine the reuse potential for the iconic Main Building. We undertook a comprehensive analysis of real estate market opportunities and, working with our team of environmental and structural engineers and historic preservation architects, identified feasible reuse scenarios for the building.

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For each alternative, Urban Partners produced a financial feasibility analysis detailing the estimated construction costs, an income/expenses analysis for on-going operations, a full range of private and public investment requirements necessary for project implementation, and potential revenue streams from reuse components that may support redevelopment.

Client: State of New Jersey Department of Treasury 
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