Chapel Hill-based UNC Hospitals has changed the proposed location for its planned 6-story surgical tower as it prepares to borrow $250 million to pay for the project, one of the system's largest ever bond issues, according to The News & Observer.
UNC Healthcare, which operates UNC Hospitals, expects the location change to save millions of dollars because the new location won't require temporarily relocation to an ambulance bay and loading dock at its Chapel Hill campus, which is already congested.
The health system plans to borrow $250 million from Wall Street by issuing bonds, effectively doubling UNC Hospitals' current debt, according to the report. The bonds have already been approved by the North Carolina General Assembly and UNC Healthcare's board of governors.
Health system officials estimate the new surgical tower will cost around $177 million, and it will house 19 surgical suites to replace the outdated ones in UNC Hospitals' Memorial Hospital. Construction will begin next year, according to the report.
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