New UNM medical school could open in 2030, according to new report

Work is set to begin on demolishing old buildings to make way for the new University of New Mexico School of Medicine later this year, with an anticipated opening in the Fall 2030 semester, university leaders told state lawmakers this week.

UNM Health Sciences Center Executive Vice President Mike Richards told the interim Legislative Finance Committee on Wednesday that work is moving along on the new medical school, which state lawmakers appropriated hundreds of million dollars toward in this year’s legislative session.

Richards said he hopes that the project will spur new development, including hotels, restaurants and housing, down Lomas Boulevard near the university.

The current phase of the process, which includes site demolition, excavation and grading, is estimated to cost about $150 million. To date, the Legislature and UNM have committed $636 million to the project.

“I think this is the largest investment that we’ve ever invested in UNM,” Sen. George Muñoz (D-Gallup) said at the Wednesday hearing.

A report that Richards presented to state lawmakers says the 350,000-square foot facility will support 200 medical students per year and will give dedicated lab space to at least 70 research faculty members. 

The school will support medical students, as well as those pursuing careers in other related fields, such as physical and occupational therapy. Some lawmakers said that inclusion will be a key step toward addressing the shortage of healthcare professionals in the state.

“This is going to be a game-changer. I wish we could wave our magic wand and have it tomorrow,” Rep. Elizabeth “Liz” Thomson (D-Albuquerque), who chairs the Legislative Health and Human Services Committee, said during the hearing. “Physicians are important. But a physician can’t do their job without nurses and therapists and x-ray techs and pharmacists.” 

Richards’ report says the project is creating more than $32 million in new state and local tax revenue, as well as 565 new jobs.

Muñoz, who serves as vice chair of the interim Legislative Finance Committee, told UNM leaders that he wants to see the project continue to stick to its budget.

“We’ve given you tons of money. You guys are going to have to have cost containment,” he said Wednesday. “I don’t know if I’m going to be willing to look back and have spent $650 million and now you say, ‘Oh, we need another $200 million to complete the hospital.'”