Wayne State University

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Wayne State University

Public Relations

Media Report

February 10, 2013

Wayne State plans $170M in building projects by 2015

http://www.crainsdetroit.com/article/20130210/NEWS/302109950/wayne-state-plans-170m-in-building-projects-by-2015

In the next three years, Wayne State University could complete almost $170 million in planned construction in Detroit and Warren, adding 115,000 square feet of new building space along with research labs, classrooms, parking areas and a new vehicle technology center. The university expects to spend about that sum across six capital projects by the 2015-16 academic year, according to reports furnished to the university's board of governors last week. The board of governors authorized a $90 million sale of 30-year bonds this spring, using Bank of America Corp. as underwriter. The bonds are financed through future general fund revenue outside of the university's state budget appropriation, said Rick Nork, Wayne State's vice president for finance and business operations. The largest capital project is the $93 million Multidisciplinary Biomedical Research Building proposed on the grounds of the former Dalgleish Cadillac Building on Cass Avenue in Detroit. The bond sale this spring will also put $9 million toward a $12 million Advanced Technology Education Center in Warren. Another $18 million from the bond sale would go to renovate the WSU Student Center building, and $23.5 million would go toward the $33.5 million cost of new laboratory classrooms and renovated research lab space in the physics, engineering and Shapero buildings. In addition, $8.5 million is designated to renovate Manoogian Hall and a separate electrical infrastructure upgrade.

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