The project will rise on a 1.8-acre site at 1611 South Andrews Avenue, directly adjacent to Broward Health Medical Center.
With the MOU negotiations now authorized, city officials and FSU leadership will work toward finalizing the agreement ahead of the decisive vote scheduled for March.
The sale price worked out to roughly $71,000 per bed.
As health systems scale, assets that support logistics, distribution, and centralized services are becoming just as strategic as hospitals and medical office buildings.
State leaders say the funding will help reduce long travel times for rural patients by bringing more services closer to where people live.