Shands Jacksonville announced Monday that its application for a Certificate of Need to build a medical campus in North Jacksonville has been approved by the Florida Agency for Health Care Administration. Construction plans will be announced soon. The 100-bed facility will be at northeast Interstate 95 and Duval Road. Shands Jacksonville acquired the land with the intent to construct a medical office building with outpatient services and a hospital. The first phase will include an ambulatory services and medical office building that houses community and University of Florida physician practices. Projected services will include primary care, specialty physician practices, diagnostic services, urgent care and outpatient surgery. The estimated cost for the hospital portion is about $125 million, which will be funded through philanthropy, retained earnings and bond financing. Construction could be completed within three to five years.