New UTC Chancellor Steve Angle told the Chattanooga Rotary Club on Thursday that a 600-bed dorm is planned across McCallie Avenue at the state office building site.
The state is exiting the former Interstate Life Insurance property, and Chancellor Angle said the university is working with the state to obtain the property.
He said it is hoped to break ground on the new dorm next year.
The state site will also add to the dire need for campus parking, he said.
Chancellor Angle noted that UTC will have over 12,000 students on campus this fall.
He said those students have record high ACT tests and high school GPAs.
The speaker said UTC is still a bargain for the student at under $8,000 for out-of-state students and $3,554 for Tennessee students with the Hope Scholarship.
He said the new $48 million library at the old Chamberlain Field site will open next spring. The Lupton Library will be renovated for other use.
Chancellor Angle said the university is finishing up a 2009-2013 strategic plan, but then will launch a 2014-2019 plan.
He said numerous people have told him "how lucky we are to get to live in Chattanooga."
His wife is from Switzerland, he said, and when they lived in Dayton, Ohio, it was hard to get relatives to come to visit.
"They all want to come to Chattanooga," he told the group.