The Dell Medical School is expected to open in 2016 and will have 50 students in its inaugural class. Partners for the project include Central Health, Seton Healthcare and UT.

Seton plans to build the teaching hospital, which is estimated to cost about $295 million. The hospital will have approximately 220 beds and will not be substantially larger than the University Medical Center Brackenridge Hospital, said Greg Hartman, president of academic medicine, research and external affairs for Seton.

UT will likely begin recruiting students for the medical school in 2015, said Sue Cox, interim senior associate dean of the Dell Medical School.

Funding for the school includes a $35 million investment per year from residents of Travis County as a result of Proposition 1, $50 million donated by the Michael and Susan Dell Foundation and other funding from UT.

On May 9, UT board of regents approved a $334 million plan to build the first phase of the medical school campus, which includes four buildings: research building, medical office, parking garage and the education and administration building, said Pat Clubb, vice president of university operations for UT. The budget for Phase 1 is $334.5 million, she said.

Phase 1 boundaries include Martin Luther King Jr. Street to the north, 15th street to the south, I-35 to the east and Trinity Street to the west.

“We’re finishing up programming at this point,” Clubb said. “We know what needs to happen in each building and how much space is needed for each function. We know who will be in the buildings and what they will need for success. That includes the number of square feet, services, equipment, technology and many other aspects of the area.”

All four buildings are currently in, or about to be in, the schematic design phase, she said. After this phase is completed, the project will move into the design and development phase and details will be solidified, she said.

In February 2014, the project will go to UT’s board of regents with design development for final approval and construction could begin a few months later, Clubb said. Construction is expected to be completed in 2016.

A dean has not yet been selected for the medical school, but UT could make an announcement about its choice by Jan. 1.

“We’ve attracted several highly-qualified candidates who are excited about the opportunity to run a Tier 1 university and its medical school in the future,” Cox said.