Arkansas State University will renovate Wilson Hall on its Jonesboro campus to house an instructional site for medical students, a project expected to cost $12.6 million.
The ASU board of trustees approved the $12.6 million plan on Thursday.
New York Institute of Technology College of Osteopathic Medicine will lease Wilson Hall, which formerly housed ASU's College of Humanities, to use as an instructional site for its medical students. New York Institute plans to open the site in August 2016.
ASU System President Charles Welch said the project needs a short-term, $8 million loan for up to eight years to finance the renovation, and New York Institute and ASU will each pay about $2.3 million up front on the project for renovation, technology and furnishings, according to an ASU news release.
ASU's $2.3 million investment will be paid from existing institutional funds and will not require a tuition or fee increase, Welch said.
"Our oldest and most historic building on campus will be getting an extensive renovation, and it will be an improved asset to the State of Arkansas with funding ultimately all coming from NYIT," Welch said in a statement.
The plans include electrical and heating, ventilation, and air conditioning renovations to manage the laboratories and specialized teaching spaces such as the simulation emergency room, simulation operating room, clinical learning rooms and anatomy lab; energy-efficient lighting; fire sprinkler system; modernized, Americans with Disabilities Act-compliant restrooms; and technology infrastructure, the release states.
New York Institute has agreed to pay ASU $300,000 annually to lease the space and another $300,000 annually for maintenance and utilities, according to the news release. Additionally, New York Institute will pay $50 per student for security services and make other payments that will be determined annually.
Metro on 08/28/2015