The facility is expected to cost $754 million. It's projected to open in December of 2013.

updated: 11/5/2009 8:19:10 AM
Wishard Hospital has signed an agreement with Indiana University-Purdue University Indianapolis (IUPUI) officially exchanging land for a new hospital. The new facility will be located on the IUPUI campus, with demolition of the current building expected to begin next week. The land exchange agreement follows the passage of a referendum in Marion County allowing the hospital to issue up to $703 million in public bonds for construction.
Source: Inside INdiana Business

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Press Release
Indianapolis, Ind. -- Representatives of Wishard Hospital and IUPUI joined together in front of Wishard's oldest buildings this afternoon to officially sign an agreement exchanging land for a new Wishard. The event comes one day after Wishard received overwhelming support from Marion County voters in a county-wide referendum.
"We are grateful for the support of the community," said Matthew Gutwein, CEO of Health and Hospital Corporation. "This is a wonderful day for the people of Marion County, for Wishard and its ability to provide specialized trauma and burn care and for medical education.”"
The new Wishard Hospital will be built on the current IUPUI campus at the location of the former Larue Carter psychiatric hospital. "Keeping Wishard adjacent to the IUPUI campus is critical to ensuring that future generations of health care providers have access to the best training scenarios," said Dr. Lisa Harris, CEO and Medical Director of Wishard Hospital.
Demolition at the site could begin as early as next week, with construction of new facilities beginning in March. The new Wishard is scheduled to be completed in 2013.
The new facilities will include a 303-bed hospital, outpatient clinic building, power plant, parking garage and facilities for medical education and research.
For more information, please visit WishardFacts.org.
Source: Marion County Health and Hospital Corporation