The original part of the Austin Peay Memorial Building was built in 1910 (opened in May 1911) as the Carnegie Library, designed by Patton and Miller of Chicago. Grant C. Miller was the designer. The cost was $54,000. In 1920 President Morgan asked the Carnegie Corporation for funds to expand the Carnegie Library. James Bertram, an executive with the corporation, replied that they were working with colleges and universities without state aid and that UT should look to the state for funds. The trustees decided to build a new library with part of the money received by UT as a result of the tax increase to 10 cents on smoking and chewing tobacco.
When the new library (later named James D. Hoskins Library) was completed in 1931, the Carnegie Library was vacated. The structure was renovated and expanded—partially (45 percent) with a loan from the federal Emergency Administration of Public Works (PWA) and partially with $150,000 approved by the board of trustees in 1934—and renamed the Austin Peay Administration Building. Charles Barber was the architect for the project. Total cost of the renovation and addition was $163,900, and the contract granted to contractor Nile E. Yearwood called for completion in 175 days.
Five fireproof vaults were installed in the subbasement for institutional records. Electric, auto, plumbing, and carpentry shops were located on the basement level. Its new name honored the memory of Governor Austin Peay (date of death was 1927), who had been instrumental in increasing both capital and operating funds of the university. The administration had been most recently housed in South College, which was considered a fire hazard, and moved to Austin Peay in the last week of December 1934. The expanded building was dedicated in October 1935.
Austin Peay was expanded again during 1950 to 1952, with an addition designed by Barber and McMurry. The facility was renovated for use by the Department of Psychology in 1975, by Johnson and Galyon Contractors at a cost of $740,097, following the 1974 move of the administration to Andy Holt Tower. That renovation included replacing the HVAC systems and repartitioning the structure.
Part of the 1975 renovation involved, in conjunction with the construction of Walters Life Sciences, creating a tunnel linking Austin Peay and Hesler. The vivarium was to be built approximately where Burchfiel Geography Building is now and linked by a tunnel.