Oklahoma State University (OSU) / A&M Board of Regents in the US has approved the design and construction of a new 200,000ft² Spears School of Business Building.
The new facility will replace the existing building, which has been used by the college for nearly 50 years.
Planned to be located on the east side of Hester Drive, the new facility will be double the size of the current 80,000ft² building and will feature two auditoriums with seating capacites of 300 and 150 respectively.
The new facility will also feature an atrium, an outdoor terrace, meeting rooms, business incubators and gathering rooms.
OSU Spears School of Business dean Larry Crosby said the new facility will attract the people from across the campus to discuss business, entrepreneurship, economics, law and policy issues.
The university said funds for the construction will be raised through the OSU Branding Success $1bn campaign.
OSU added that to date over $28m has been raised for the project, including a $5m gift from Chesapeake Energy for the Chesapeake Energy Student Success Center in the new building.
The 4,200ft² Chesapeake Energy Student Success Center will house four departments, which include student services, career services, professional success passport and the business writing lab.
In July 2010, OSU Regents selected architects Frankfurt-Short-Bruza (FSB) of Oklahoma City and Perkins+Will to create a plan for the new Spears School of Business Building.
OSU has also secured financing for the construction of its Learning and Student Success Opportunity Center.
Image: After completion, the new Spears School of Business Building will feature the 4,200ft² Chesapeake Energy Student Success Center. Photo: Courtesy of Oklahoma State University.