College Station-based Texas A&M University plans to build a $550 million complex in the Texas Medical Center, a sprawling Houston hub of healthcare institutions, according to The Houston Chronicle.
The complex will include a 30-story medical office building, an 18-story academic building and a 19-story student housing building and will occupy 5.5 acres of land in the medical center.
"This represents a major commitment by A&M to put its maroon stake in the ground and become a major player in the Texas Medical Center, to be in the middle of all that health science center activity," Greg Hartman, Texas A&M's vice chancellor for strategic initiatives, told the Chronicle. "If you want to be a major healthcare player in this area, you've got to be in the Texas Medical Center."
Currently, the major academic players on the Texas Medical Center campus are Waco, Texas-based Baylor University and Houston-based UT Health.
Texas A&M's new complex will be financed through a public-private partnership. About $145 million will come from the state, and Houston-based Medistar Corp. will pay more than $400 million.
Read the full report here.