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The medical complex, which will include an MD Anderson Cancer Center, is now set to be developed on a property in near the Domain.
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The university says the gift from Austin residents Tench and Simone Coxe is one of the largest in UT Austin's history.
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UT previously announced that the two-hospital campus would take the place of the demolished Frank Erwin Center.
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MD Anderson said it was notified via a letter from BCBSTX earlier this year.
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The demolition of the Frank Erwin Center will make room for the new additions to the Dell Medical School campus.
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James P. Allison and Tasuku Honjo were cited for their work in harnessing the immune system to arrest the development of cancer.
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The University of Texas MD Anderson Cancer Center is partnering with Baylor College of Medicine and the Massachusetts Institute of Technology to study…