Editor’s note: This blog is adapted from content partially developed by the University of Minnesota News Service.
Late last week, the University of Minnesota Board of Regents approved final agreements among the University, University of Minnesota Physicians (UMP) and Fairview Health Services for a new academic Ambulatory Care Center.
With agreements in place, this Friday crews will break ground on the new $160.5 million, 330,000-square foot facility at 909 Fulton St. SE, Minneapolis. The center, scheduled to open in January 2016, will provide new space for clinics currently housed in the Phillips Wangensteen Building and allow for much-needed expansion.
Clinics and an outpatient surgery center will incorporate education and research for transformative team-based care at the new Ambulatory Care Center, which will enhance the experience for patients and students.
The University will execute two 30-year leases and a parking facility agreement; guaranties with UMP and Fairview for payment of $150.5 million in special purpose bonds issued by the U and $12.2 million in capitalized interest; and a master agreement that establishes the overall framework for clinic management and operation.