The University of St. Francis is working on plans to move its business school to downtown Fort Wayne.
University and city officials announced Monday that the school is buying the three-story Chamber of Commerce building. The university plans to renovate it for use by its Busse School of Business and Entrepreneurial Leadership.
The Journal Gazette reports university president Sister Elise Kriss says 300 to 500 students could take classes there, freeing up space on its main campus west of the city's downtown.
St. Francis is also buying the former Scottish Rite Center next to the Chamber of Commerce building and is working to raise $10 million for renovation work on both buildings.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)