UT System employees and services will be consolidated into one new building on Seventh Street between Lavaca and Colorado streets in downtown Austin.
Currently, the System operates out of five buildings: O. Henry Hall, Claudia Taylor Johnson Hall, Ashbel Smith Hall and the Lavaca and Colorado buildings. According to System spokeswoman Jenny LaCoste-Caputo, the Lavaca and Colorado buildings will be demolished to make room for the construction of the new building.
According to an email sent to System employees from Scott Kelley, executive vice chancellor for business affairs, the estimated cost of the project is $102 million. Kelley said projected savings for the System could be between $2 million and $8 million a year.
In the email, Kelley said construction should be complete by late 2016 or early 2017.