The University of Miami has applied for up to $764 million in revenue bonds for refinancing and an expansion project, according to a Miami Today report.
One component of the expansion project will be the Lennar Foundation Medical Center, a 200,000-square-foot ambulatory center in Coral Gables, Fla., according to the report.
The new facility will use approximately $150 million of the requested funds. It will house urgent care, outpatient surgery, men's health, women's health, physical therapy, diagnostic imaging and radiation oncology services. The facility will also offer specialty care provided by the Sylvester Comprehensive Cancer Center and Bascom Palmer Eye Institute, according to the report.
The Lennar Foundation Medical Center contributed $50 million to the project, allowing the foundation to name the ambulatory center.