The structure, which will be located off Damascus Road, has been in the works for years. The parcel in ASU West, situated next to University Village, was a gift from the city of Augusta.
The university received $2 million in design funding from the Georgia Board of Regents in January; however, the construction has not been funded by the board at this time.
Architects plan for the complete design and programming of the building to be finished in the next six months with an expected construction completion date of 2014.
The new $27 million building will house the Hull College of Business and the Department of Nursing with state-of-the-art classrooms, computer labs, study space, offices and multipurpose rooms, according to a news release.