University of Iowa Health Care attributed the need to rising inflation and a workforce shortage, according to the report. Ripple effects of the war in Ukraine were also cited.
The construction of a new hospital, as well as more academic, research and clinical space on a 60-acre campus in North Liberty, Iowa, originally was expected to cost $395 million, according to the report. The project is now expected to cost $525.6 million.
The board approved the project in 2021, and construction began in October, according to the report. It is expected to finish on time in 2025. Construction is being financed with hospital revenue bonds, donations and building usage funds. It is not using state or tuition dollars.
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