The University of Arkansas, Fayetteville, is planning to add a new building to campus for the growing Sam M. Walton College of Business.
The Arkansas Democrat-Gazette reports that multiple recent studies identified a need for more space. Majors in the Walton College of Business are up nearly 60% in the past five years, the university says. The Walton College is UA Fayetteville's largest college, with more than 10,300 students.
This project will add roughly 110,000 square feet on the last remaining site available for development within the Walton College “precinct,” according to Clayton Hamilton, executive vice chancellor for finance and administration. A new building could house 17 new classrooms, which also would free up other instructional spaces on campus, and the edifice would be a hub for student “study, collaboration, and innovation."
The new-building project is estimated to begin in May 2027, finish in June 2029 and cost $100 million.
During the 2024-25 academic year, more than 400 business classes were not taught in Walton College buildings because of a mismatch of existing rooms and class section sizes, according to the university.
Funding will be sourced from university reserves, private gifts and general obligation bonds supported by Student Facility Fee revenue. Financing plans call for a future bond issue of at most $70 million.
