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Stanford Graduate School of Business to Break Ground on New $75 Million Residential Building

stanford new residential buildingFirst-year Stanford Graduate School of Business (GSB) MBA students will live in a brand new residential building by 2016, the school reports. Design concepts for the new $75 million project were approved by the Stanford Board of Trustees last month, and the school plans to break ground on the new facility in fall 2014.

The four-story, 146,000-square-foot residential building will be adjacent to the school’s state-of-the-art Knight Management Center, which opened in 2011. The new facility will include 200 single-living units. The addition of this new housing to the existing 280 units in the school’s Schwab Residential Center will enable Stanford for the first time to offer on-campus housing to its full first-year class. It will also provide space for up to 80 visiting executive education participants.

“This new residential space allows us to offer a genuinely immersive experience to all of our incoming students and complete the vision for the Knight Management Center — a place where business school students can live, learn, collaborate and connect with each other and with students from across Stanford’s other six schools,” Stanford GSB Dean Garth Saloner said in a statement.

Stanford GSB will continue to provide housing for couples and first-year MBA students with children in its Escondido Village and Munger facilities.

The new project is projected to cost $75 million and will be funded through a combination of philanthropic gifts, operating revenues and debt. The same architectural firms responsible for the Schwab Residential Center – Legorreta + Legorreta and Steinberg Architects – have again teamed up to design the new building. Its 200 units will feature private entrances and baths shared kitchen space. They will be similar to the rooms in Schwab, although they will be slightly larger and feature several enhancements.

The new facility will also include a 2,900-square-foot multipurpose room, as well as several other common area spaces, all of which will be open to all Stanford GSB students.

Learn more about planned construction of a new residential facility at Stanford GSB.