The board of trustees approved the purchase by the Knoxville campus of two buildings on University Avenue, including 1525, at its June 2013 meeting. The adjacent buildings, with less than three acres of parking, had been rented by their owner, Knoxville Community Development Corporation (KCDC), to the State of Tennessee. Completed in 2012, the site at 1525 University Avenue was developed by a team led by Realty Trust Group and included BDT Development and Management. The second floor of the two-story, 15,800-square-foot structure was shell space when purchased by UT. The building was renovated for use by the UT Foundation, which had been occupying space in the Andy Holt Tower, the Communications and Extension Building, and the Conference Center Building. The lot at 1525 University Avenue was the last lot acquired by KCDC in its HOPE VI redevelopment effort.