(Radio Iowa) – The University of Iowa will ask the Board of Regents to approve a housing master plan that includes building a new dorm and selling one that it currently owns.

The five-year plan includes building a new residence hall that would accommodate 250 to 400 students and is estimated to cost between 40 and 60 million dollars. The plan calls for funding some of the cost of the new dorm by selling the Mayflower Residence Hall.

Mayflower Residence Hall. (U-I graphic)

Mayflower was built in 1968 and at the time was a private apartment. It is one mile from campus and the U-I says it is the last chosen residence hall and the first one the students transfer from.

The plan the U-I will present to the Board next week also includes continued renovation of the current residence halls.