The estimated project investment for Indianapolis-based Indiana University Health's new hospital and expanded medical campus is $4.3 billion.
The construction cost for the new hospital, which combines IU Health Methodist and University hospitals into one 864-bed facility with three 16-story towers, is expected to cost $2.31 billion.
Additional costs like support buildings and infrastructure on both the expanded 44-acre campus and neighboring properties are expected to cost an additional $1.98 billion. Support buildings include parking garages, medical offices, and logistics space, according to an IU Health news release.
"We're taking those two old hospitals and putting them together in one that then means our staff does not have to go back and forth anymore," Jenni Alvey, senior vice president and CFO of IU Health told Becker's regarding the project. "From a health equity perspective, having one hospital where everyone is treated the same. Everyone has individual rooms, nice new beds. We think that's what Indiana deserves."
The hospital is expected to open to patients by the fourth quarter of 2027.