In order to battle a rising need for on-campus housing, the University of Minnesota is planning to build a new dorm on the current site of the 1701 University classroom building.

The residence hall is expected to cost about $38 million and will house primarily first-year and transfer students. University administrators hope to have the building ready for the 2013 fall semester.

The classroom building and the parking lots behind it had been targeted for years as a potential site for development, said Orlyn Miller, the director for Capital Planning and Capital Management. The proximity to campus and Dinkytown make it a prime candidate for student housing, Miller said.

If the project moves forward, the classroom building would be torn down. 

The $38 million is a rough estimate based upon the cost of past projects, Miller said. The demolition, design and construction would be paid for by bonds sold by the University âÄì paid off by rent once the dorm opens.

The University is seeking a firm for the âÄúpre-designâÄù work to decide upon the amount of units and what amenities the building will house, and determine a better cost estimate.