SARASOTA, FL, UNITED STATES, November 13, 2026 /EINPresswire.com/ — Approval advances completion of USF Sarasota-Manatee campus transition and supports New College’s long-term growth and expansion
New College of Florida today announced that the Florida Board of Governors has unanimously approved the college’s financing plan to address outstanding debt obligations associated with its acquisition of the University of South Florida’s (USF) Sarasota-Manatee campus, marking an important milestone in the institution’s continued growth and expansion.
The financing package, up to $47.5 million, consolidates existing debt associated with New College’s residential facilities and the acquisition of Atala Hall, the student center and dormitory located on the former USF Sarasota-Manatee campus. The approval provides New College with a financing structure to meet its obligations associated with the campus acquisition while positioning the institution to make strategic use of its expanded campus footprint.
“We are building an institution with a bold vision for the future, and today’s approval brings us another step closer to realizing that vision,” said New College of Florida President Richard Corcoran. “Bringing the USF Sarasota-Manatee campus into New College creates tremendous opportunities to expand our academic offerings, enhance the student experience and build on New College’s standing as Florida’s premier public honors college. We appreciate the Board of Governors’ consideration and support as we move forward with this important investment in the college’s future.”
The acquisition of the neighboring USF Sarasota-Manatee campus adds approximately 32 acres to New College’s existing campus, representing a significant opportunity for New College to grow its academic programs, expand its residential capacity, enhance campus life and create additional opportunities for students, faculty and the broader Sarasota-Manatee community.
With the Board of Governors’ approval, New College will continue implementing the financing arrangements and advancing the campus transition in coordination with USF and the appropriate state university system partners.
About New College of Florida
Founded in 1960, New College of Florida is the state’s designated public honors college. Recognized nationally for its academic excellence, rigorous inquiry, and commitment to free expression, New College offers more than 50 undergraduate majors, graduate programs in Applied Data Science, Marine Mammal Science, and a new Master’s program in Educational Leadership, and a growing NAIA athletics program on a 151-acre campus on Sarasota Bay.
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