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Georgia Tech puts forth $63 million plan for campus in Cobb County

University wants to buy 32 acres in Marietta from Lockheed Martin.

Officials with the University System of Georgia are set to discuss a $63 million proposal by Georgia Tech to build a new campus in Cobb County.

The Atlanta Journal-Constitution reports that Georgia Tech wants a lease-revenue bond package to acquire and renovate 32 acres of a Marietta facility owned by aerospace giant Lockheed Martin.

The proposal is one of the items on the agenda for the Board of Regents’ Tuesday meeting,

The renovations would include 755,000 square feet of office and warehouse space in four buildings, which previously housed operations for the F-22 Raptor fighter jet program that finished in 2013.

Tech’s plan to buy the Lockheed land was announced in June 2016 but, no building or financing plans were given at that time.

The Lockheed campus also has 20 acres of undeveloped land that Georgia Tech plans to acquire under a separate deal.

Georgia Tech already has a research facility at nearby Dobbins Air Reserve Base with labs for aerospace and electromagnetic research.

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