The hospital is being built in parallel
Seton Healthcare Family, the University of Texas and Central Health have nearly completed a series of agreements that would see UT lease the land it owns for Seton’s new teaching hospital for $877,621 per year.
The complex arrangement has Central Health, Travis County’s health department, as the initial lessee of the land for about $72,000 per month with Seton subleasing the property from Central Health for the same amount.
At a Central Health board meeting Wednesday where the agreements were discussed but not voted on, Central Health officials explained that the arrangement lets the county keep some control and put performance requirements on the $295 million hospital. Seton is expected to break ground on the structure soon and complete construction in 2017.
The hospital is being built in parallel with the new Dell Medical School near the Frank Erwin Center that will open in 2016. That construction project is set to be one of the more ambitious in downtown Austin in the coming years, with 8 construction cranes operating during the peak of building activity.