By Monica Ayala-Talavera Updated: Monday, April 21, 2014, 11:55 am Published: Monday, April 21, 2014, 11:12 am

UT Austin launches construction of Dell Medical School (Frank Martinez/KXAN)

AUSTIN (KXAN) The University of Texas at Austin launched construction of their new Dell Medical School on Monday at a groundbreaking ceremony at the site of the new school.

UT is the first tier-one university in the U.S. in decades to establish a new medical school thanks to the approved 2012 proposal to increase the tax rate for Central Health and commit $55 million each year to support the medical school. The Michael and Susan Dell Foundation also pledged $50 million to establish the school.

Last year, the UT System Board of Regents committed $334 million for the construction. Additionally, the Seton Healthcare Family has committed $295 million a portion of which will come from fundraising to build a new 211-bed teaching hospital to replace the aging University Medical Center Brackenridge. Seton Medical Center at The University of Texas will serve as the medical schools primary clinical in-patient teaching facility and enhance services to residents of Central Texas.

The 515,000 square-foot school will include a medical office building, a parking garage and research, educational and administrative facilities. UT officials said they expect the first facilities to be completed by the fall of 2016.

UT President Bill Powers, Dell Medical School Dean Clay Johnston, Chancellor Francisco Cigarroa and Sen. Kirk Watson were present at the groundbreaking ceremony, among other community leaders and officeholders.

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UT Austin launches construction of Dell Medical School