Tallahassee, FL (WTXL) -- Florida State University is exchanging land in order to expand the College of Business.
FSU will be receiving more the five acres near the Donald L. Trucker Civic Center in exchange for three parcels of land, totaling around 5.7 acres.
The university will also be paying the Tallahassee Community Redevelopment Agency $960,000
The land swap was approved by Governor Rick Scott and the Florida Cabinet.
FSU is using the new land to expand the College of Business and plans to build a new facility called Legacy Hall.
The project will cost between 65-75 million dollars. The university hops to fund it through private donations.
President John Thrasher, a graduate of the college of business, says the expansion will allow student opportunities to grow.
