The University of Arizona College of Medicine planned for downtown Phoenix will cost about $75 million in its first four years.
The Arizona Board of Regents reviewed and approved details Tuesday for the development of the medical school's Phoenix campus, unveiling updated budgets and student enrollment goals for the next 20 years. For the first four years starting this year, the projected operating budget for the campus is $74.4 million. Out of that total, $32.5 million will be requested from state funds.
The first 24 students will enroll in July 2007, and 24 more are expected to enroll the next year.
The renovation of the former Phoenix Union High School buildings for the medical school is expected to cost $21.5 million and is scheduled to be completed by next June. Two other new buildings, the Arizona Biomedical Collaborative and a facility with additional classrooms, are slated to cost $117.2 million.
The medical school's goal is to graduate 150 students each year, which backers say will help alleviate physician shortages in the state.