The University of Central Florida (UCF) says it has received a $1.5 million donation—the second such gift in the last two weeks—to help build a campus in downtown Orlando.
CFE Federal Credit Union announced its commitment to the UCF Downtown project, the university announced. It comes two weeks after the Orlando Magic basketball team made a similarly sized donation to the project.
The university plans to construct a $60 million, 165,000-square-foot academic building that will be the centerpiece of a new campus serving about 7,700 students from UCF and Valencia College.
“The UCF Downtown campus will provide significant opportunities for Central Florida, and CFE is proud to support an initiative that will have such a meaningful impact on both a local and national scale,” says Joseph A. Melbourne, Jr., President and CEO of the credit union.
The university is planning for the downtown campus to open in fall 2018. It will offer students a learning environment within walking distance of many internship and job opportunities. Valencia College, which will share the building, plans to offer programs in digital media, health information technology and hospitality.
Funding for one-third of the building will come from private donations. The university is contributing $20 million from its resources and is asking the state for an additional $20 million.