The University of Kansas is receiving a $20 million gift to help finance a new building for its School of Business.
The Lawrence Journal-World reported Thursday that the gift is from the Capitol Federal Foundation, affiliated with the Topeka-based Capitol Federal Savings Bank. The gift represents about one-third of the estimated $60 million cost of constructing a new building for the business school.
School of Business Dean Neeli Bendapudi said the school hopes to build a six-story, 165,000 square foot building near Allen Fieldhouse. Construction could begin by early 2014.
The business school is now in Summerfield Hall, which opened in 1960.
Capitol Federal Chairman and CEO John Dicus said that business schools are often a point of pride at universities across the nation.