The UT System Board of Regents will vote Wednesday on a proposed $102,417,000 administration building intended to consolidate offices from its five downtown buildings.

The regents will vote on a 16-story high-rise for system offices, meeting space, central eating spaces and limited retail space during its meeting Wednesday at the University of Texas Health Science Center at Tyler. The new administrative building will also include garage with capacity for more than 650 vehicles and will be located north of Seventh Street downtown on System-owned land.

The change would require an approval from the regents to amend the 2013-2018 Capital Improvement Program, the System’s long-term plan to improve and maintain facilities.

The System projects the consolidation of its downtown offices would save between $2 million and $5 million annually that would be allocated to undetermined student success initiatives, according to the UT System.

“A task force comprised of UT System officials has extensively studied the feasibility of different options and determined that constructing a single replacement facility with above ground parking is the best option,” agenda materials read. If approved, design development plans and funding expenditure authorization will be presented to the board for approval at a future meeting. The building’s completion date is estimated as March 2016.

The Facilities Planning and Construction Committee is scheduled to speak at 4:30 p.m.

Printed on Wednesday, November 14, 2012 as: New office high-rise under consideration