The NU Board of Regents approved resolutions related to financing Project Health, the future hospital at the University of Nebraska Medical Center. Two resolutions establish available financing up to $500 million through long-terms bonds and a short-term commercial paper program.
A separate resolution allows for submission of the application to the State of Nebraska for appropriated funds under the Nebraska Transformational Projects Act – Project Health. Under the Act, the State can match other private and public investments into Project Health up to $300 million and no more than $50 million per year.
Project Health is the first phase of Project NExT and is projected to cost up to $2.2 billion. Located on the former Munroe-Meyer Institute site, it will consist of a modern healthcare facility that will provide new and improved clinical and educational space for the medical center.
The finished building will likely be 2 million sq. ft. or more, making it one of the largest buildings in the state. While final plans have not yet been released, the hospital will likely be close to 400 feet high, making it Nebraska’s fifth tallest building. Project Health is also expected to create thousands of new jobs.
According to an article from KMTV, groundbreaking is scheduled to take place sometime next year with construction taking place over the following seven years.
