The University of Texas at Austin Medical Center will start with two new hospital towers — The University of Texas MD Anderson Cancer Center and a UT Austin hospital. UT spokesman Kevin Eltife said the investment would be approximately $2.5 billion. They will build the hospitals in place of the Frank Erwin Center arena, slated for demolition. Groundbreaking for the hospitals will be in 2026.

In a press release, Eltife said, “…the partnership combines the powers of a research university with the expertise of the nation’s top-ranked cancer center, with the goal of uniting the best of academics and the private sector to fight disease.”

The new MD Anderson Cancer Center will have 150 in-patient beds and the ability to handle complex procedures. It should also create thousands of jobs.

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