McALLEN - The University of Texas System Board of Regents has approved the leasing of an approximately 86,150-sf facility to be built at 2300 E. Dove Ave by Doctors Hospital at Renaissance.
The preliminary lease agreement is for ten years, with option to renew and an option for the University of Texas Rio Grande Valley (UTRGV) to purchase the facility from DHR at fair market value after a five-year period.
Building costs are estimated at between $32 million and $34 million.
UTRGV President Guy Bailey said the space will expand UTRGV's footprint in the Valley and positively affect health care, education and economic development in the region.
Completion date is projected to be January 2018.
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