Yale has started clearing the property where SOM's new campus, a 230,000-square-foot structure, could begin to rise as early as this fall. If construction goes according to schedule, the new campus should open for the 2013 school year.
The new building will reflect the integrated Yale MBA curriculum. Four types of classroom designs have been approved, with the largest being an innovative oval space that seats 84 students and includes three projection screens and three sets of rotating blackboards. The new campus is expected to be a LEED Gold certified green building, with both the building and its grounds helping to save energy and recycle rain water.
With more space, SOM plans to increase the size of the student body and hire more faculty and staff. In addition to having a big impact on the lives of the SOM community, the new campus will have a significant economic impact on the area. Just constructing the building will require 885,000 work hours, resulting in $42 million in payroll. Students are expected to increase their spending in the city, from $6 million to $9 million per year. Add to that permitting fees and the impact of visitors, and the new campus should spur more than $242 million in new spending over the next 20 years.