The University of Michigan in the US has received a $100m donation to construct a student residence hall on its Central Campus.
The gift was received from Charles Munger, vice chairman of Berkshire Hathaway and a business partner of Warren Buffett.
The university said the residence, which will house more than 600 occupants, will be named after the donor.
Planned to be located on Central Campus on the north side of East Madison Street between South Division and Thompson streets, the 370,000ft² eight-storey building is expected to open in 2015.
Most apartments in the new building will feature seven individual bed/study rooms, while some will have three or six bedrooms.
The entire eighth floor of the building will feature gathering spaces, a fitness centre with a running track, a commissary, a Fellows’ Room and a view of the campus and Ann Arbor.
The facility is expected to cost about $185m, with the remaining funds coming from lease revenue, the university said.
After completion, the residence hall is expected to achieve LEED Silver certification from the US Green Building Council. The building is expected to exceed standard energy efficiency codes by over 30%.
U-M President Mary Sue Coleman said, "We anticipate this new building will have many options for students for meetings, gathering spaces, project spaces and living accommodations that combine the best private and common space."
Munger also donated $20m for renovations to the Lawyers Club housing complex in 2011, which was named in his honour.
Image: Berkshire Hathaway vice chairman Charles Munger. Photo: University of Michigan.