The University of Texas System Board of Regents has agreed to advance planning for a $425 million facility to house the McCombs School of Business.
The Austin American-Statesman reports that the proposed 10-story building in Austin would be built next to Robert B. Rowling Hall, UT’s graduate business facility, and will include an underground parking area, classrooms, faculty and administrative offices, student collaborative spaces, a career center and an event area.
The regents have signed off on the total project cost as well as the design development for the first phase, and appropriated funding for that work.
University President Jay Hartzell applauded the board's approval for the new business school facility. About 5,000 undergraduate students are business majors, and the new building will enable the university to accommodate the school's growth.
“This will let us design classrooms for the way students are learning business today,” Hartzell said.