Officials with Spalding University have announced plans to expand the campus after purchasing the Cosmopolitan Building in downtown Louisville.
Once renovations are complete the building will be renamed the Republic Bank Academic Center.
Spalding president Tori Murden McClure says the bank met the school nearly halfway to help pay the $700,000 purchase cost.
“We couldn’t afford the full purchase price and they helped us out and we’re going to turn it into a 40,000 square foot classroom, laboratory and office complex,” she says.
It will also include 40 faculty offices and one large lecture hall.
Spalding’s enrollment reached an all-time high of over 2,515 students last fall, and McClure expects the growth to continue. She says since she was hired as president three years ago, the university has added 500 more students.
She says work on the the building at Third and Kentucky Streets should be completed in the spring of 2014 and will include some minor renovations.