LOUISVILLE, KY. (WDRB) -- The Department of Veterans Affairs has bought the Brownsboro Road property where it plans to build the new Veterans Medical Center facility.

It bought the property Tuesday from Blue Equity, LLC for nearly $13 million.  The VA could start construction soon, possibly by this year.

Back in June, Blue Equity told WDRB News a new VA Medical Center at that location would serve the veterans well and help bolster the local economy. Local businesses like Impellizzeri's Pizza agree. Located across the street from the site, the owner says once construction starts, it's expecting to see more construction workers for lunch and dinner.  And to top it off, the pizza restaurant expects business to increase once the hospital is open.

But some neighbors are concerned that the new hospital will lead to increased traffic and a drop in their home values.  Resident John Lepping said in June, "I'm not going to say it's going be destroyed by addition of Veteran's Hospital, but there are some projections that it actually could affect property values as much as 30-40%"

Bob Gunnell a spokesman for Blue Equity, said, "Traffic congestion will be less." He anticipates it will be 25 percent less than if the original plan of a mixed use property was located there. Developers were planning to build a hotel, shopping, and restaurants, but that plan will no longer happen since the VA is buying the land.

The new hospital is expected to cost an estimated $883.2 million. It will have clinics specializing in primary care, surgery, and mental health and 110 inpatient beds.  Construction is expected to be finished by 2018.

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