Late News: OSU board OKs $1 billion expansion of medical center

A $1 billion expansion project for the Ohio State University Medical Center’s Columbus campus received final approval from the Ohio State University board of trustees. The school plans to issue $925 million in bonds and will solicit donations and “public partnership investments” for the rest, according to a news release. Called ProjectONE, the plan calls for a tower that will contain a research institute and a cancer hospital that will have capacity for at least 276 beds, which is 116 more than current capacity. There will also be a new 144-bed critical-care building, and research, education and patient-care spaces. No ground-breaking date has been set, and no certificate of need is required. The work is expected to be completed in 2015.