(Radio Iowa) The Board of Regents has given approval to the University of Iowa to begin planning for a new dorm and the possible sale of the current Mayflower dorm. U-I Vice president for finance and operations, Rod Lehnertz says the new dorm would cost between 40 and 60 million dollars and will be tailored to the needs of returning students.

He says they have a couple of potential sites for the new dorm that are near the current dorms on the east side of campus.

Lehnertz says the returning students are often those who transfer, or are coming back to college. He says they benefit from living on campus by meeting people and making connections.

He says the Mayflower dorms location one mile from campus makes it the least desired for the new students who end up there, and that is why they want to sell it. Lehnertz says Mayflower was a two tower building that was originally built as an apartment and would be desirable for those who want to make it back into apartments.

Lehnertz says they would look at the possibility of using the proceeds of the Mayflower sale to help pay for the new dorm. The new dorm plans and the sale of Mayflower are part of the overall housing master plan that includes renovations of the existing dormitories.