The Kansas State University Foundation’s board of directors has voted to begin development of the first phase of a master plan for a 14-acre tract of land at the corner of Kimball and Denison Avenues in Manhattan.  The initial project for the site will be an office building for the KSU Foundation.  Future phases will add three additional buildings that will provide commercial space for corporate office and lab space.

“We are unanimous that this is the right time to initiate this project, ” said retired Gen. Richard Myers, chairman of the foundation board. “Now that the National Bio and Agro-Defense Facility has been funded, and with the addition of the Kansas State Department of Agriculture opening recently in the university research park, the time is ideal to assist the university in further developing the north campus corridor, and also further strengthen the foundation as it seeks to build higher sustained levels of philanthropic support for the university. The foundation office building will also include leasable space for corporations to engage students and faculty and gain research expertise that benefits the university and the corporate partners.”

The foundation building will be completed on the site of an office building that was started in 2007, and discontinued in 2008 due to the onset of the recession.  The overall cost of the new building will be reduced by using the same footprint as planned originally and some building materials that had already been purchased.

The estimated cost of the 59,000 square foot building is $11.5 million, which will be financed through a commercial loan.   Construction is expected to begin in October of 2014, and will be complete in August of 2015.