On Wednesday University of Texas officials unveiled plans for the new medical school to be built on campus.
Regents will vote on Thursday on the $334 million construction plan for the school which will be known as the Dell Medical School.
The construction plan includes research, educational and administrative facilities. There will also be a medical office building and a parking garage. Seton Healthcare Family and Central Health would build a new hospital that will be part of the campus.
The medical school campus would be built on land owned by the university north bordered by I-35, 15th Street, Trinity Street and Martin Luther King Boulevard.
According to the plans released by the University of Texas, the plan would disconnect Red River Boulevard between MLK and 15th Street in order to make way for some of the buildings.
The plan would not require the Frank Erwin Center to be relocated. It would, however, require the Penick-Allison Tennis Center be moved.
The Board of Regents Academic Affairs Committee voted Wednesday to recommend the approval of plan for the medical school. The full Board of Regents will vote on the plan Thursday.
"The site plan for this project joins together the best in academic and community resources, and I'm very proud of the Board of Regents' leadership in bringing this medical school to fruition," said Gene Powell, Chairman of the Board of Regents. "We are very excited because establishing a medical school on the campus of UT Austin is one more step to catapulting the university to even greater success, putting it in competition to be the finest public university in the nation."
The University System would finance the project by issuing bonds backed by its state endowment. The Board of Regents has previously pledged an additional $25 million a year to cover operating costs.
The Dell Medical School is expected to open in 2016.