The University of South Carolina has received approval from the state’s top financial board to renovate its old law school building.
The university plans to borrow $45 million to help remodel the 44-year-old building in downtown Columbia. According to The State newspaper, the school’s filings indicate it will use the former law school for classrooms and science labs, particularly chemistry.
The State Fiscal Accountability Authority approved the borrowing Tuesday.
USC said it needs to borrow the money plus the $3.5 million from the state’s Capital Reserve Fund to mitigate asbestos and lead-based paint, upgrade the heating and air conditioning system and conduct general renovation of the building.
Construction is scheduled to begin in September with an estimated completion date in summer 2019.
USC opened its new $80 million law school building in downtown Columbia last month. The 187,500 square-foot facility takes up nearly an entire city block at Bull and Gervais streets.