The provincial government has provided an update on two separate land transactions.

A total of 64.764 acres was acquired from H3 Development for $23,274,700 million, including 10 acres of donated land, for the new acute care hospital campus slated for Kenmount Crossing in St. John’s.

An appraisal of the 10 acres of donated land was determined to have a market value of $450,000 per acre, a value that applies to the remaining 54.764 acres as well. Government purchased the remaining 54 acres for $425,000 per acre.

Kenmount Crossing was determined to be the best site for the new facility, given it is the convergence of three of the largest municipalities.

An appraisal of the land off Snow’s Lane was commissioned by the department in 2018 and determined a market value of $160,000. An adjustment of two per cent per year for the passage of time is typically applied, making the current land value approximately $176,000. The Purchase and Sale Agreement for $176,000 has been finalized, with the land transaction scheduled to close in May.

The property is deemed landlocked with no access point from Snow’s Lane, Logy Bay Road or the Outer Ring Road. An access intersection for the property from the Outer Ring Road cannot be approved as per Transportation Association of Canada guidelines and Transportation and Infrastructure’s Highway Access Policy.