AUSTIN (KXAN) — Texas Children’s Hospital announced plans Wednesday to put a new hospital in north Austin.

The hospital will be in the Presidio area of north Austin, and will be 360,000 square feet with 48 beds. It will provide neonatal and pediatric intensive care with operating rooms, an epilepsy monitoring unit, sleep center, emergency center along with labor, delivery, recovery and postpartum care.

It’ll also have 1,200 free parking spaces, and is set to open near at the end of 2023.

“Texas Children’s, like Austinites, dwell in possibilities. Every facet of our new hospital will be designed, engineered and tailored with your family’s needs and desired experience,” said Mark A. Wallace, president and CEO. “Texas Children’s came from humble beginnings, opening in 1954 with a 106-bed pediatric hospital. From there, we grew into the preeminent hospital we are today, delivering the highest quality care possible by serving the needs of the children of Texas and beyond.”

The cost of the project is $450 million, and is being built by McCarthy Building Companies.

The hospital will participate in the Austin Green Building Council program to design, build and sustain healthy facilities for Austin communities, officials said.

Texas Children’s Hospital is the second hospital group to recently announce a new build in north Austin. Dell Children’s announced plans in May to build a hospital in the portion of north Austin in Williamson County.