University of California Board of Regents on Thursday accepted UC Merced's 10-year, $1.129 billion capital improvement plan, which will guide the university's physical expansion to serve more than 11,000 students by 2020.
The regents also authorized UC Merced to oversee and manage construction projects that cost less than $60 million, part of a pilot program to streamline the capital improvement process.
In the coming decade, UC Merced anticipates needing $519 million for instruction and research buildings, $144 million for infrastructure improvements and $131 million for student housing. More than half of the funding may come from the state, while external financing, campus funds and gifts will make up the balance.
"We need a significant infusion of funds in the next 10 years if we are to grow at projected rates," said Mary Miller, vice chancellor for administration.
The capital improvement plan was written to support the university's Strategic Academic Vision 2025 (SAV). The SAV outlines how the campus will grow its programs and course offerings over the next 15 years to continue with its mission to become a leading 21st-century research university with a distinguished reputation for academic excellence, cutting-edge research and community service.