The University of Michigan will announce plans today to build a 240-bed children\'s hospital to make way for the latest advances in health care for kids -- from saving premature babies to treating young burn victims. U-M\'s current facilities are cramped and outdated, lacking space for new technology and for families to stay comfortably with their ailing children, U-M officials say. \"The facilities need to keep up with the talents of the staff, \" said Robert Kelch, U-M executive vice president for medical affairs. Work on the new hospital is expected to begin late next year and will cost $360 million to $480 million. The U-M Board of Regents is expected to approve the project this spring.The Flint-based C.S. Mott Foundation, which helped launch the existing hospital in 1969, will donate $25 million for the new building. It\'s the largest gift ever for U-M Health System and the largest single gift given by the foundation.