Kansas State University has gotten the OK to build a new residence hall, renovate two others and replace a dining center.

The Kansas Board of Regents voted Wednesday to approve the $70 million project. The new 450-bed facility will open in the fall of 2015 along with a new dining center that will be connected to the existing Marlatt and Goodnow halls. The university also plans to renovate those two residence halls and use the dining center that now serves them to house a generator.

The university is projecting that demand for on-campus housing will outstrip capacity in coming years. A news release described the project as the university’s most significant residence hall upgrades in more than 45 years.

Funding will come from housing fees and revenue bonds.