(MURFREESBORO) Eleven months after the ground breaking took place, the Vanderbilt Children's Surgery and Clinics is coming along well.
The medical complex is on Garrison Drive, across from the Murfreesboro Medical Clinic, behind New Vision Baptist Church.
The new campus is a single story, 37,500 square foot Pediatric Clinic and Outpatient Surgery Center as Phase 1. This is a $27.5 million investment into Murfreesboro and the residents within our community.
Earlier reports indicate that Vanderbilt paid around $8.00 per square foot for the 11 to 14 acres, or $348,480 per acre. That equates to an estimated sale price of $3.8 million to $4.8 million for the land.
Another improvement to the area would be to extend Northfield Boulevard, between the Ford auto dealer and Georgetown Square Shopping Center, with another bridge over Broad Street, crossing the Stones River. As part of the sale to Vanderbilt, the city is accelerating the construction of the segment from Gateway Boulevard to North Thompson Lane. It is anticipated that the proceeds of the sale to Vanderbilt will more than offset the cost of constructing this segment of the Northfield extension.
Vanderbilt University Medical Center would initially employ 14 medical doctors and nurse practitioners and staff of between 40 and 50 people with a payroll of approximately $8 million.
Phase 2 of this development would expand the building from 37,000 to 100,000 square feet and add between 120 and 150 jobs with an estimated annual payroll of $24 million and a total capital investment of $51.5 million. This future phase is anticipated within the next 10 years.
In addition, Vanderbilt has acquired 80+ additional acres of land on the Veterans Parkway near I-840.