CHAMPAIGN, Ill. (WAND) - The University of Illinois Urbana-Champaign is set to receive $140 million in state funds for a major campus project.

The four-phase project features the complete restoration of the school's existing Altgeld Hall and the replacement of Illini Hall. There will be a new facility in its location for the Department of Mathematics and Statistics. 

The new Illini Hall will be home to a data science center as part of the Champaign-Urbana Hub of the Illinois Innovation Network. First phase construction began in July and full project completion is expected in June 2026. Work will be overseen by the Illinois Capital Development Board (CDB). 

Funding is made possible by the bipartisan Rebuild Illinois capital plan. 

"The Rebuild Illinois plan recognizes the importance of the University of Illinois system as a foundation for innovation and a core building block for our state's workforce of the future," said Gov. JB Pritzker. "What's happening with these investments in higher education is a microcosm of what we're doing across the state. We're fixing decades-old problems, creating and supporting good jobs, vaulting our state into the future, and invigorating opportunities for the next generation - including the thousands of young people who call U of I home."

"This investment in the University of Illinois Urbana-Champaign and the Illinois Innovation Network is an investment in the people of Illinois and a better future for us all," University of Illinois System President Tim Killeen said. "The funding, made possible by the foresight of Gov. Pritzker and supported by other elected leaders, will provide a key, new home for the kind of cutting-edge data science that will power scientific advancement and economic improvement, and make certain that Altgeld Hall remains a vital part of the heart of the Urbana-Champaign campus, as well."

Including funding provided for the Altgeld and Illini Hall projects, the governor's office said the capital plan will invest a $686.3 million total into the U of I system in the coming years. A total of $586.3 million will go toward new construction, large-scale renovations and deferred maintenance for repairing infrastructure the governor's office said was "neglected during previous administrations." 

In its totality, the Rebuild Illinois capital plan invests $45 billion in roads, bridges, railways, universities, early childhood enters and state facilities.Â