Seton's teaching hospital will be located at 15th and Red River Streets. Dell Seton Medical Center will have 211 beds and is estimated to be complete in 2017.[/caption]

The Michael & Susan Dell Foundation announced Jan. 27 plans to provide up to $25 million in matching funds to help Seton Healthcare Family build its teaching hospital, which is estimated to open in 2017.

The 211-bed teaching hospital called Dell Seton Medical Center at The University of Texas will replace University Medical Center Brackenridge and is estimated to cost $295 million to build. The teaching hospital will be located near UTs Dell Medical School at 15th and Red River streets.

Ascension Health, Seton's nonprofit parent company, and Seton have pledged $245 million to fund the teaching hospital. In 2013, The Michael & Susan Dell Foundation announced a $50 million grant to help build the Dell Medical School.

The medical school and teaching hospital are part of state Sen. Kirk Watson's 10 Goals in 10 Years plan, which also includes establishing modern health care clinics and providing psychiatric care and facilities.

Our community's goal of transforming health care in Austin and beyond requires a modern, 21st-century teaching hospital, Watson said in a statement. This generous donation form the Dell Foundation helps us reach that goal.

In August, Seton hosted a celebratory event to commemorate the beginning of construction on the teaching hospital. A few months laterconstruction on the southeast portion of the Dell Medical School began.

The medical school also received a $35 million investment fromTravis County residents following successful passage of Proposition 1 during the 2013 election. UT is also contributing money toward the development of the medical school.