Reply to "The Ethicist" on Sidwell's Hospice Purchase

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Reply to ""The Ethicist" on Sidwell's Hospice Purchase"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]First of all (as the current co-chair of TWH Family Council, my mother now lives there; my father passed away there), there are soooo many inaccuracies and half truths in many of these replies. First of all, don't confuse TWH with the residents.  Those are separate and distinct groups with separate and distinct, very distinct agendas.  Nor is the notion that Sidwell sends some great font of students to TWH to volunteer accurate, nor has it been in the almost decade my mother has lived there.  The fact of the matter is, the property sold under market value because both Sidwell AND TWH entered into a confidentiality agreement that ensured that none of the potential alternatives for resident relocation could be explored. What might they be?  Dual use facility with someone else running it.  It's 6 acres after all.  Incentivizing payment by setting funds aside to make sure that they could get placed in comparable facilities with private rooms in locations near their loved ones.  More time.  And that's to name but a few. Sidwell doesn't have to go into the business of nursing home care to have made it's choices more ethical.  Both TWH and Sidwell just need to adjust their moral compass.[/quote]

What would be a fair price? What is the incentive to sell under market value? You need to answer these questions or you just sound like sour grapes. [/quote]

If anything the school paid a premium because they share a property line with the Washington Home site, saw a chance to consolidate their divisions on one campus and wanted to secure the Home site from other uses that could have adversely impacted the school.  Moreover, they plan to reuse and renovate about 80 percent of the existing Home facility and therefore will save massive demolition costs that another purchaser would likely incur.  Even if the theoretical development value of the property were higher than what Sidwell is paying, selling to a developer would have been a much riskier proposition for the Home.  It's unlikely that a developer would have closed the purchase until all zoning approvals were obtained.  And another Cathedral Commons or even a dense condo-only project proposed for the site would have resulted in a long battle with the residential neighborhood.  All this would have meant a protracted process for the Home, which is incurring steep annual losses, with no certainly that a transaction would close at all (and with continued uncertainty for the Home residents and staff).[/quote]

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