Students, faculty and staff at the UK Gatton College of Business and Economics will see the first fruits of the school’s $65 million privately financed renovation and expansion project this semester, as the new addition and the renovated Commerce Wing open this month.
Faculty and staff have already begun moving into the newly finished Commerce Wing, which was originally built in the early 1960s. The new addition is scheduled for completion by Aug. 18, and faculty will begin to explore the classrooms and familiarize themselves with the new technology before fall semester classes get underway on Aug. 26.
"The new Gatton building is among the very best business school facilities in the world,” said David W. Blackwell, dean of the Gatton College, in a release. “"The additional space and modern technology not only allows us to serve more students, but also alters the fundamental interactions among our students, faculty and staff to dramatically improve our research productivity and student outcomes."
The number of students served by Gatton College is expected to increase from 2,800 at the start of the project to almost 4,000 after the renovations are complete. UK broke ground on the project in October 2013. Interior demolition of the building’s existing Classroom Wing is expected to begin soon, with completion of the project targeted for April 2016.
When the improvements are complete, the footprint of the facility, which is located at the intersection of Administration Drive and South Limestone on UK’s campus, will have increased by 40 percent to 210,000 square feet. Among other features, Gatton’s new home will include a 500-seat Kincaid Auditorium, a technologically advanced Seale Finance Learning Center with a simulated trading environment, 20 new classrooms and 42 collaborative breakout rooms. The new facility will also house the Woodward Special Events Hall to accommodate dinners and lectures and the Don and Cathy Jacobs Executive Education Center, which will manage the college’s outreach efforts in the business community.
"We are looking forward to teaching in the new classrooms, occupying the new offices, meeting in the new conference rooms, and utilizing the cutting-edge technology that has been installed throughout the building,” said Ken Troske, senior associate dean of the Gatton College and Sturgill Endowed Professor of Economics.
No taxpayer dollars are being used to fund the project, Blackwell said.
"The entire $65 million being spent on construction of the new facility will be funded through gifts from our generous alumni and friends," Blackwell said. "We currently have commitments for $58 million, so we have a way to go.”