Towson University plans to buy the Charles Schwab Building in downtown Towson for around $7.5 million to move some administrative offices off campus, according to the Board of Public Works agenda for July 3.
The building, which is a half a mile north from the main campus at 401 Washington Ave., is near a number of county government offices as well as the Towson Armory, another university building project.
“Right location, right property, right price,” said Sean Welsh, a Towson University spokesman, about the anticipated purchase.T
he 130,000-square-foot tower could partially relieve a 300,000-square-foot shortage of space the university is experiencing due to its growing student population, Welsh said.
“The university has a shortage of space to serve the students adequately,” he said.
The undergraduate population has seen an 8% increase from 2008-2018, while the overall student population has grown by 9%, according to Towson University’s Common Data Set. Currently, the university has just under 23,000 students but plans to cap enrollment at 25,000 before 2024.