Photo courtesy of Skanska

The construction team will build a 112,000-sq.-ft. structure that features classrooms, modern office spaces and other amenities.

Skanska USA has been selected to construct a new $54.5 million building at Rice University for the Jones Graduate School of Business that will support the school's growing student and faculty population.

The University and project teams celebrated the new project with a ground breaking ceremony on May 9, unveiling the innovative design of the new facility.

The new 112,000-sq.-ft. structure features classrooms, modern office spaces and vibrant amenities such as dining areas, open gathering spaces and facilities for private events. The new building will integrate with McNair Hall — the current home of Rice Business — enhancing the campus environment and continuing to cultivate a collaborative culture.

Skanska is partnering with B. Bell Builders on the project, a local general contractor based in Sugar Land, Texas.

"We take immense pride in our role in shaping some of the nation's premier universities," said Dennis Yung, executive vice president and general manager of Skanska USA Building in Houston. "This project will not only help shape our community, but also enhances Rice University's esteemed position in the global business arena. It will empower students from diverse backgrounds, enabling them to engage in transformative learning experiences and collaborative endeavors for generations to come."

The new building will expand around the existing one, creating new public spaces between the sections and is designed to blend seamlessly with the campus and its surroundings.

Additionally, the new building will be constructed above an existing underground parking garage and will include flood-proofing measures to enhance the school's resilience to extreme weather.

"This remarkable new building embodies the evolution of Rice Business over the past five decades and its commitment to equipping graduates who are not only integral to organizations around the globe, but are also poised to lead them," Rice President Reginald DesRoches said. "We're committed to offering top-tier facilities that complement our top-ranked academic programs, attracting the best students, faculty and staff to our campus."

The Jones Graduate School of Business building is expected to reach completion in February 2026.

About Skanska

Skanska uses knowledge and foresight to shape the way people live, work and connect. More than 135 years in the making, it is one of the world's largest development and construction companies. It operates in select markets throughout the Nordics, Europe and the United States. Skanska in the U.S. is headquartered in New York City with 28 offices around the country. In 2023, construction in the U.S. generated $7.1 billion in revenue and as a developer in the U.S., Skanska has invested a total value of $4.6 billion in commercial and multi-family projects.

Photo courtesy of Skanska

Officials from Rice University gathered to celebrate the ground breaking ceremony for the new Jones Graduate School of Business.

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