The site of an old water plant could become a new dorm.

At the regents meeting Wednesday, the Property and Facilities Committee decided to recommend that the UI demolish Iowa City’s former water plant.

UI officials plan to build a a new residence hall on the site, which has sat vacant since the university acquired it in 2003. The estimated demolition cost is $1 million to $1.5 million, which would be funded by income from UI’s treasurer’s temporary investments. Such investments have funded many past capital projects.

The regents will vote on the proposal today.