The University Medical Center at Princeton is considering moving to a location outside of Princeton Borough, the Times of Trenton reported.
Formerly Princeton Medical Center, it is currently located on Witherspoon Street.
The hospital revealed that it was considering a move in May, but has made no final decisions, the Times reported.
It is considering a dozen, larger sites within 10 or 20 minutes of downtown Princeton.
Borough Councilman Joe O'Neill said local government will need to be closely involved if the hospital decides to move outside of the Borough.
Approximately a half million visitors make use of the facility each year.
"We plan to hold a series of public hearings" about a hospital relocation, he said.
The hospital brings more people into Princeton than anything else except the University, said O'Neill — who is running for Borough Mayor in tomorrow's election — in an earlier interview.
The hospital, which came under new management, is "reassessing its future demands and future needs," said outgoing Borough Mayor Marvin Reed.
Reed said the new mayor will need to evaluate what will be done with the Witherspoon Street site if the hospital does decide to leave.
If it were to happen, the University is considering buying the property. It would then be used as graduate student and employee housing, the Times reported.
The newspaper quoted Bob Durkee, University vice president for public affairs, as saying that the University and the hospital's parents company have been in intermittent real estate talks since August.

Durkee told the Times that all talks were preliminary until the hospital makes a decision regarding its future plans.
Durkee and Pam Hersh, University director of community and state affairs, could not be reached for comment yesterday.
The University, however, has an interest in having the hospital stay in the Borough, Durkee said.
"It's an important asset for members of our faculty and staff and for our students, [so] we have a very strong interest in the hospital remaining somewhere in this community and being as good as it possibly can be," he told the Times.