AUSTIN (KXAN) — Now that the patients, medical professionals and equipment have been moved a block away to the new Dell Seton Medical Center, officials with Central Health have to figure out what to do with the now vacant University Medical Center Brackenridge. The only part of the old Brackenridge hospital that will remain is the parking garage.

Fences are up and soon most of the campus will be demolished. Central Health owns the 14.3-acre site where Brackenridge currently sits. Now that Dell Seton is open, Central Health is losing around $34 million in annual lease payments from Seton for the Brackenridge location.

Central Health is trying to figure out how to recoup that money. The entity is looking at generating long-term revenues through a mixed-used development complete with office spaces, restaurants and affordable housing.

“We’re talking about a very dense development here on this property which has drawn interest from really across the world in terms of a new place in Austin,” said Christie Garbe, vice president and chief strategy officer at Central Health.

Redevelopment plans include pedestrian-friendly streets and open spaces. Redesigning the space won’t happen overnight. Central Health expects it’ll take 15-25 years to fully renovate the space.